Long

Updated

XAU/USD Trading Before NFP News Friday

Hey Traders,

As XAUUSD falls we can look at new long zones.

Reflecting off higher time frames is crucial and if you look Monthly you can see price action / rejection circa 1803.

We Previously looked at gold in my last Editors Pick:

Coming off from these highs and managing new entries is so important.

Looking for swing moves up nearer 1880 area.

Oh and be patient. Never rush in on large falls and overleverage or it can hurt very badly.

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Longs only lower.

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Shorts only nearer 1883. Awaiting news 1:30 GMT

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Here comes NFP news. Be ready

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That means setting potential entries and also potential exits.

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Holding any long entries

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Later longs taken lock in gains, earlier longs taken hold for swings.

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Maintaining long bias into next week.

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This is not new longs ^ just held longs from the previous week

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Holding longs in gains up to 1880 area.

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Still holding longs, lock in gains via local support SL.

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Make sure you have locked in gains pre fed mins tomorrow.

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Still holding longs will locked in gains.

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Move trailing stop up. Way in gains.

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Exit for gains, scaling in short 1883

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Light entries now. Holding for FOMC.

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Any longs you should be out of. Further shorts now.

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Holding short entries in gains.

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Exit for gains on 4H support.

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very light re shorts. Would not be suprised if we RE reach 1916.

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Sentiment is with Gold bulls. Hold off and trade light (nothing heavy amid sentiment)

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looking lightly short.

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Maintaining short bias. Only new dca entries 1972

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Lock in gains on all shorts taken.

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Hold off re shorts.

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Only light shorts circa 1932, further entries 1972.

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Remaining short from 1932. No new adds until significantly higher.

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Consider making shorts far lighter on dca entries amid current sentiment of markets.

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Short bias remains.

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Dca shorts applicable,

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Lesser sizes, spaced sizes and eyes on news very much recommended. Do not overleverage and/or fall in love with entry.

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If you are shorting into Monday;

Remember the price high and returning to highs. It is a short on a technical bias.

Market sentiment is pulling it up and fast. Do not make an enormous entry and pretend it can’t go higher. It can and many times it will when you least expect.

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I repeat. Risk MUST be managed in time like this. There is strong MKT sentiment and it can be dangerous. Do not be suprised if price rallies higher. If you are going to trade, trade lightly and trade sparingly.

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Maintaining careful short bias.

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Lock in gains.

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Re shorts above highs. Shorts are OK at the moment but must be very small.

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Short bias remains. Happy to enter here only lightly.

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Make sure you keep an eye on market sentiment. It changes and you need to aswell.

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Light shorts now, any further entries way into highs and very light. Risk remains.

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Gold higher as expected. Still following same protocol to control risk. Would not be shocked if we get higher. Short bias only remains.

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Same focus on risk management. Trade lightly.

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Exit shorts taken late, flip extremely lightly long.

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Exit longs for gains. Only light short entries persist.

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Lock in short gains +30$ move.

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Exit shorts for gains.

WillSebastian

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

WillSebastian

Free Pro Multi Asset Trading Guide:

bit.ly/learnttm

Free Discord Secret Server:

discord.gg/tXAcxFVCJU

Posts Not financial advice.

Also on: