Long or Short on GOLD [NFP] ?
Updated
Dear traders,
First of all, I hope you are aware that NFP fundamental news will shake the market today.
Therefore, don't risk too much, DO NOT SCALP NEWS, manage your risk properly
and better stay off the market.
My view on Gold from a market structure perspective:
Gold has been respecting supply and demand zones perfectly and the only demand zone left behind (which has not been mitigated) is the 3H demand zone.
Overall direction for gold is bullish and in my humble opinion, the price will reach above 1834 (at least).
The only question is - Is it going up before or after testing that demand zone?
On the way up there's a tiny 3H supply as well. From which I'm expecting a short term sell.
It's important to monitor and see, which comes first. Indeed all these zones will be tested.
We just need to patiently wait and react when the opportunity is there.
Good Luck and a Happy Profitable Year to all of you!
DISCIPLINE
It's just an idea of mine.
However, everyone can share their thoughts in the comment section below.
Also, don't forget to support me! :)
Disclaimer: Trade at your own risk. I'm sharing my ideas and not giving trading advice.
Always plan your trade and trade your plan.
First of all, I hope you are aware that NFP fundamental news will shake the market today.
Therefore, don't risk too much, DO NOT SCALP NEWS, manage your risk properly
and better stay off the market.
My view on Gold from a market structure perspective:
Gold has been respecting supply and demand zones perfectly and the only demand zone left behind (which has not been mitigated) is the 3H demand zone.
Overall direction for gold is bullish and in my humble opinion, the price will reach above 1834 (at least).
The only question is - Is it going up before or after testing that demand zone?
On the way up there's a tiny 3H supply as well. From which I'm expecting a short term sell.
It's important to monitor and see, which comes first. Indeed all these zones will be tested.
We just need to patiently wait and react when the opportunity is there.
Good Luck and a Happy Profitable Year to all of you!
DISCIPLINE
- Strive for patience, perseverance, determination, & rational action.
- Limit your losses, use stops.
- Never cancel a stop loss order after you have placed it!
It's just an idea of mine.
However, everyone can share their thoughts in the comment section below.
Also, don't forget to support me! :)
Disclaimer: Trade at your own risk. I'm sharing my ideas and not giving trading advice.
Always plan your trade and trade your plan.
Trade closed: target reached
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.