XAUUSD backtest
Updated
Its a Buy.
Awaiting till pullback area.
For 1H trade, enter ONLY after 15 minutes bullish engulfing
For 15 scalp, enter either based on 5 minutes momentum shift or bullish engulfing.
NO FOMO and anticipate the market move around the pullback area.
Keep tight stops as mentioned.
Again why is it a Buy ?
Week level TF - Its at the previous HL.
Day level - Yesterday made close above the previous bearish candle.
4H & 1H - Price action - The exhaustion phase is getting engulfed bullish ( after a push phase around the buyer area with this current 4H close in 20 minutes )
Right time to go long and high probability for wick fill.
And as usual, don't go long if it breaks the HL/ stops.
Awaiting till pullback area.
For 1H trade, enter ONLY after 15 minutes bullish engulfing
For 15 scalp, enter either based on 5 minutes momentum shift or bullish engulfing.
NO FOMO and anticipate the market move around the pullback area.
Keep tight stops as mentioned.
Again why is it a Buy ?
Week level TF - Its at the previous HL.
Day level - Yesterday made close above the previous bearish candle.
4H & 1H - Price action - The exhaustion phase is getting engulfed bullish ( after a push phase around the buyer area with this current 4H close in 20 minutes )
Right time to go long and high probability for wick fill.
And as usual, don't go long if it breaks the HL/ stops.
Note
We need to factor in the 4H pull back area for addl. increase in odds as well.
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