XAUUSD | New perspective | follow-up details
Updated
The $1,860 level held price strongly "supported" while participants in this market await next week's U.S. inflation data that could influence the Fed's rates policy. Last week's trading session was characterized by a consolidation phase as price action was caught within the $1,880 and $1,860 range to pronounce the indecision at this juncture in the market. This video illustrates the technical perspective as we anticipate trading opportunities off the breakout or breakdown of the channel in the coming week.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
The consolidation phase from last week's trading session appear to continue as price action trades around the key level identified in the video at the $1,860 Level. We remain patient for signals in the form of breakout or breakdown and retest of the current structure.Good morning
Trade active
Trade active
The multiple rejections of the $1,855 zone by the buyers in the last 11 hours say a lot about the strength of buying pressure at this juncture. In this regard, the 15-minute timeframe reveals a simple trading set-up for buying opportunities as long as the price remains above the $1,858 zone.Trade active
Sell-stop order was triggered as a price action breakdown/retest of the $1,857.50 level.Trade active
Secure the sell positionTrade active
After being taken out of the sell position with a small profit, price climbs back into the channel identified at the beginning of the week and it is currently trading at a potential retest of the support trendline of the pennant. We want to see how price reacts to the trendline for an informed decision where a reversal pattern below this structure will welcome selling opportunities below the $1,860 level but a breakout/retest of the resistance at $1,865 will welcome buying opportunities. Update coming up soonGood morning
Trade active
Trade active
Second position is triggered; secure all positions as we look forward to more opportunities to add more positionsTrade active
After being taken out of the sell positions during the volatility that followed the CPI event. Anticipating a re-entry for a sell position as projected earlier. However, if price action breakout/retest Trade active
Secure all sell positions as 3 positions is currently running in profit.Good morning
Trade active
QUICK UPDATE: We discussed this at length during the live session today (watch the video replay on my channel); secure all positionsTrade active
Outlook on 15 minutes timeframeTrade closed manually
Manually closed with approximately 6,000 pips profit as price action remains in a consolidation phase in the last 19 hours. The market mood remains mixed and from a technical standpoint, we shall be using the newly identified bearish trendline to guide trading opportunities for today.Good morning
Trade active
QUICK UPDATESee you at the live session
Trade active
Sell pressure continues; secure sell positionTrade closed manually
Price action takes out all the sell positions as buying pressure grips this market in the last 4 hours. Price is currently trading within a sell window (see the chart) identified during our live session today (see video on my channel); looking forward to a reversal pattern within this window for selling opportunities. Update coming soonNote
UPDATEStructures re-adjusted to fit the current situation as we look for selling opportunities below the $1,845 level
Trade active
Trade active
One more position was triggere at the breakdown of the $1,830 level. Secure all positionsGood morning
Trade active
Watch the replay of our live session this morning on my channel for details
Trade smart. Trade consciously
Related publications
Disclaimer
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.