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XAUUSD Gold sell limit scalp test tradeAnd sure enough Price action did exactly what we were looking for price action to do. Typically I would move stops to break even and take partial profits here, however due to the fact I am taking a reduced lot size (0.01 lots as I am currently testing the trading style out) I will move stops to breakever at our BE line (1909) But I hope this was an educational post and demonstrates exactly how and what I look for in the market when taking trades, and as I sample more and more of these types of trades/entries I can look for ways to improve it.
OANDA:XAUUSDShort
by FriesianFX
XAUUSD Gold daily timeframe breakdownAs ever with gold, it's a staircase up and elevator down. Price has been bearish since the 8th of august with a new low being created, breaking the lows from June after the March pump and with a high amount of liquidity being grabbed there is definitely a chance for buys here. 1876 on the daily timeframe being respected would be a key area for the weekly candle to reverse/flip where liquidity is being grabbed from the downside and retesting 1900.
OANDA:XAUUSD
by FriesianFX
XAUUSD Gold weekly timeframe breakdownAnother week of more bearish price action. All in all it was a good week for trading with no losses being taken and successful trades (all have been reviewed and broken down here) So with price closing below another key area of support, the expectation is going into the final week and a half of August price should continue down with little to no support remaining. At this point 1860 is the next level where we could see a rejection however given how price action in the past has reacted to this level I wouldn't be surprised if we drive straight down, but I feel that's not as likely as the bull case of tapping that level and moving back up into the 1900's.
OANDA:XAUUSDShort
by FriesianFX
XAUUSD Gold 90 pip sell ideas - breakdown and explanationSo today we had 2 successful trades - one was a "forward testing" trade with only 0.01 lots being traded, the other was our routine style of trading where we waited patiently for price action to do what we wanted it to do. In this case, price closed below our level of support, once it did that we executed sells and with proper risk management, we closed partial profits at 10+ pips and moved stops to breakeven, which means the remaining position has the opportunity to keep running for risk free, which it absolutely did. A beautiful run into 90 pips profit before bouncing, the perfect return after being away for a day.
OANDA:XAUUSDShort
by FriesianFX
US30 BULLISH ELLIOT BREAKDOWNLooking back from Wednesday 15 of March, 2023, the wave 3 kicked off after wave 2 has completed its 3 waves movement. Wave 3 which carries 5 sub-waves along side submerged. Sub-waves 1, 2 and 3 are done, going for the fourth wave which carries 3 waves (ABC waves). However, from 4H timeframe, we can see a Zig-zag correction occurring which goes with 5-3-5 formation. Wave 4 is almost done, from there we can witness the last wave of 5. let's see what the lunch from NASDAQ:AAPL will bring about on the 15th of September. Stay tuned for updates from this breakdown. WAVE 1 = 5 WAVES WAVE 2 = 3 WAVES WAVE 3 = 5 WAVES WAVE 4 = 3 WAVES WAVE 5 = 5 WAVES WAVE A = 5 WAVES WAVE B = 3 WAVES WAVE C = 5 WAVES
EIGHTCAP:US30Long
by Ifeanyichukwuxx