XAUUSD Gold Bull But Overbought
XAUUSD GOLD
1DTF
Observation:
Gold almost hit the highest resistance zone (May June 2021 - Monthly TF)
Gold broke UP the monthly resistance trendline on 11 Feb 2022.
Kaju Fusion Bullish
Kaju X Bullish
STO & RSI OVERBOUGHT
Friday candle closes as Doji
Thurs Friday candle crosses Upper Bollinger Band
We expect a retracement, followed by a rocket upwards
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Trade Idea 1
Retracement trade
Depending on the next candle on Mon and Tues, we can probably take a short trade for a retracement.
Do monitor STO and RSI and candle
Sell: 1900-1907
TP1: 1882
TP2: Let profit run
SL: 1918 (May June 2021 Resistance zone 1907-1917)
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Following the trend
Trade Idea 2
Buy: 1833.35-1861.56
TP1: 1871.56
TP2: Let profit run
SL: 1823.35
1DTF
Observation:
Gold almost hit the highest resistance zone (May June 2021 - Monthly TF)
Gold broke UP the monthly resistance trendline on 11 Feb 2022.
Kaju Fusion Bullish
Kaju X Bullish
STO & RSI OVERBOUGHT
Friday candle closes as Doji
Thurs Friday candle crosses Upper Bollinger Band
We expect a retracement, followed by a rocket upwards
----------------------------------------------
Trade Idea 1
Retracement trade
Depending on the next candle on Mon and Tues, we can probably take a short trade for a retracement.
Do monitor STO and RSI and candle
Sell: 1900-1907
TP1: 1882
TP2: Let profit run
SL: 1918 (May June 2021 Resistance zone 1907-1917)
----------------------------------------------
Following the trend
Trade Idea 2
Buy: 1833.35-1861.56
TP1: 1871.56
TP2: Let profit run
SL: 1823.35
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