XAUUSD - Let's ride this bull
Updated
Arguments to make this trade:
- On the daily chart, RSI is leaving the oversold area, SlowStoch is crossing over, MACD is about to cross, a morning star is forming with the last 3 candles.
- It seems we are going to break the current wave and continue the uptrend of this pair.
- On the weekly chart we have a bounce from the 0,618 fibo and closed above this line on friday.
- NFP report indicated to go LONG.
- Divergences showing on the 4 hour chart, indicating sellers are drying up.
ENTRY: 1176,5
SL: 1157
TARGET: 1380
Planning on adding during the ride.
FYI: I'm a complete newb in trading and to improve and add some discipline to my trades I'll post my ideas on Tradingview. Also to review my thought process why I made this trade.
All the "juice" to make this trade is gathered from other traders their idea, mostly published on Tradingview. Thank you guys for sharing your ideas with the community!
- On the daily chart, RSI is leaving the oversold area, SlowStoch is crossing over, MACD is about to cross, a morning star is forming with the last 3 candles.
- It seems we are going to break the current wave and continue the uptrend of this pair.
- On the weekly chart we have a bounce from the 0,618 fibo and closed above this line on friday.
- NFP report indicated to go LONG.
- Divergences showing on the 4 hour chart, indicating sellers are drying up.
ENTRY: 1176,5
SL: 1157
TARGET: 1380
Planning on adding during the ride.
FYI: I'm a complete newb in trading and to improve and add some discipline to my trades I'll post my ideas on Tradingview. Also to review my thought process why I made this trade.
All the "juice" to make this trade is gathered from other traders their idea, mostly published on Tradingview. Thank you guys for sharing your ideas with the community!
Note
One thing that was also in my mind when placing this trade last friday was the Italian referendum. As this could cause some "panic" the safe heaven gold could pop. This was the case but turned around quick for some reason. My SL was hit because of a spike to 1156,97... Now I'm waiting untill we move out of the blue line structure before jumping in again.Trade active
New buy @ 1170, SL 1150Note
Wow, wht a fantastic entry again.. If I enter this sucker it decides to do drop like a mofo..Trade closed: stop reached
Fail
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