GOLD buy! Good Luck traders,catch the pipsHello Traders, here is the full analysis for this pair.
Watch strong price action at the current levels for BUY GOOD LUCK! Great BUY opportunity in GOLD ..
I still did my best and this is the most likely count for me at the moment ..
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GOLD-BUY
GOLD ::: BULLISH22 FEB 2021
Gold CMP: 46550.
Buy for target 47771
with a stop loss of 46250
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XAUUSD ready for next impulseHi guys,
Here we have Gold finishing a falling wedge after trying to break the formation twice, one time to the down-side and another to the up-side. On both situations it ended up falling back inside the pattern. At the time of writing price is at 1855, level that served as support for price several times before. Now testing it as resistance. Now, if buyers doesn't show up i believe we could see another drop to the latest lower point, around 1775 and it would be probably a great place to buy since my overall opinion about gold is that its going up. If buyers do show up and we end up seeing a nice break and re-test we could enter a position aiming 1960 as first target and the last higher high of 2060.
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Time to Buy GOLD?Although most currency analysts expect a broad dollar decline during 2021, the short-term outlook for the greenback appears to be leaning to the upside, with recent price action suggesting a support base could be forming.
Further supporting the idea of an oversold U.S. Dollar is government trading data. According to data released on Friday by the Commodity Futures Trading Commission (CFTC) for the week to January 19, the next speculative short position on the dollar grew to its largest in ten years.
This opens the door to a potentially bullish short-covering rally up to the trend line.
Bullish Pinbar as Support ZoneThere are two Bullish Pinbar as bottom candle (support zone) which the zone doesn't overlap. I will be looking for safe buy entry starting from Low price of Bullish Pinbar #2, and looks more possibility the price will enter demand zone of Bullish Pinbar #1. If price doesn't break Fibo level 100 (1.00), i will look for next buy entry at Low price for Bullish Pinbar #1. So safer exit will be at Fibo level 100.
Gold Bullish Idea | 25 Jan to 29 Jan | XAUUSD LongOANDA:XAUUSD
Description:
Based on the above analysis, gold is looking bullish on the daily chart. So I'll be looking for long positions.
Trade Open Strategy:
By daily chart analysis we come to the idea of going long for the next week ahead, So we will be waiting for candlestick signal on 15m chart or 1h chart.
Some of the candlestick signals to look for (in 15m or 1h Chart):
Single:
Hammer or Inverted Hammer
Double:
Bullish Engulfing
Bullish Inside Bar
Tweezer Bottoms
Triple:
Morning Star
Three White Soldiers
Three Inside Up
Message Of the Day:
Chart Analysis to filter direction + Candlestick Signal to spot entry point = Power
GOLD TARGET TO REACH 1200 PIPS SETUP QM BUY VHRTFX Forex Rules
1.0 Trade Process
First Phase
Find supply and demand in daily/h4 draw a line or box
Find pattern(quasimodo/HNS/KING/Engulf) in h1/m15 HIGHER BETTER, snr in area snd of (1)
The setup sl must below 5% from capital / Ratio 1:2 above (DEPENDS ON TIMEFRAME AND CHANGE LOT SIZE WHEN SL IS BIGGER)
Plot everything on the chart and mark the setup
Entry and forget (Stop loss and Take Profit is compulsory)
Second Phase
Almost hit tp set be
Do house work or Backtest ss or go productive
Third Phase
Hit Sl and lost 5% from capital stop trade for the rest of the day
Hit tp and reach target also stop trade for the rest of the day
Extra Profit withdraw or transfer to account wallet
2.0 Type of Account Money Management
2.1 Account Control Money Management ( CMM )
Risk 1-3% recommended for 2% from capital per day trade
Leverage 1:15 or below so we not using over lot size
Target 5% to 30% per month and withdraw the amount that exceed 30% profit
When current day have lost reach 3% or 2% Stop Trading for the rest of the day
2.2 Account Full Margin ( FM )
Only trade 1 pair
Leverage set the highest your broker can give prefer 1:2000
Never use stop loss
Preferable using extra profit capital only!!!
Gold , Silver , GBPUSD , GBPJPY
Setup Quasimodo, Kink King
GOLD Zones watch for trade GOLD is rangebound for now watch zones for trades. chances are high that the market reacts to them always watch these zones (even market breaks them or restest or reversal will happen also add confluence for trade). for now, keep watching these zones. AND HAPPY NEW YEAR 2021 :)
Gold Buy Idea After Trend Line BreakoutH4 - Price has broken above the downtrend line.
Currently, it looks like a pullback is happening.
Bullish hidden divergence.
Expecting further continuation higher until the strong support zone holds.