XAUUSD Buy w/ Confluences
Market structure is creating higher highs and higher lows indicating an uptrend
We got our break and retest: Price has hit the top of our indecision zone, retraced and now we're waiting on the move back to the upside.
Classic supply and demand move from zone to zone.
Entry is 1970 which is above our previous consolidation zone's wicks (indicated by red eclipses)
We are looking for price to break last week's previous high and take profit in the supply area.
RRR on this trade is 2.4 to 1
Take profit: 1985 (150pips)
Stop Loss: 1964.5(30 pips)
We got our break and retest: Price has hit the top of our indecision zone, retraced and now we're waiting on the move back to the upside.
Classic supply and demand move from zone to zone.
Entry is 1970 which is above our previous consolidation zone's wicks (indicated by red eclipses)
We are looking for price to break last week's previous high and take profit in the supply area.
RRR on this trade is 2.4 to 1
Take profit: 1985 (150pips)
Stop Loss: 1964.5(30 pips)
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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.