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GOLD-TRADE

Gold potential short position from an important resistance zone OANDA:XAUUSD Is near an important resistance zone. Currently long positions are so risky and we have to look for short positions. The most caution entry might be when the price breakout black trend line. If this happened, my first TP will be orange line and then red zone. But don't forget that we have so important news next days. 🟥Please Pay attention🟥 *Don't forget like and follow.💛 *Please do a research first and then open a position( Not just by my analysis )🧐 *If you liked this idea or if you have any other opinion about it, write in the comments.❤
FX:XAUUSDShort
by CryptoSphereTG_1
Gold Trade Review: October 5, 2022What a wild ride today. Price broke the low of resistance which would be my sell entry, right as i finished doing my morning analysis. This threw me off because I wanted to enter but I knew I missed the chance and had to wait. But I unfortunately did not wait enough, I sold at support and price retraced, hitting my SL. Keeping the same bias, I waited for a new resistance on 30m to form which occurred at 9:30am est. I then used the LTF to enter a sell once price gave me further bearish confirmation, and set 1:3 RR. News was good for USD which caused price to drop on Gold and hit my TP quite fast. LESSON FOR THE DAY: Do not fall into the temptations of FOMO; you will pay the price. Instead just wait. Be patient. Once the pattern forms that I want, then I can enter the trade. I am not missing out if I enter based on FOMO and emotions. The goal is to follow the trading plan, not to make X amount of money in any given trade.
FX:XAUUSDShort
by SoManyDistractions
Gold Setup Idea: Pre New York (Oct 4, 2022)Please note that these long and short positions are not at all strategically positioned; instead I simply am showing a general idea of what price could do, so please set your own SL and TP. But the fact is price has been extremely bullish since last week when the weekly candle respected a supply zone. Price is now retracing which shows us the bullish daily candles, and today may be another bullish day. I could envision price forming support pre-ny on 30M timeframe around $1700 level for another retest of london high, and then potentially further. But if price returns bearish on 1H and close below $1700, and then continues below $1695, sells could be very good too. Let us see what NY has in store for us. Also, News at 8am to remember.
FX:XAUUSD
by SoManyDistractions
Gold Trade Review: October 3, 2022My initial bias was to buy if price broke above $1669 but upon watching price action in pre-NY, a nice support was formed which allowed me to keep a small SL so instead of a 1:2 or 1:3 trade, I could achieve a 1:4. That means this trade doesnt have to work too often to be profitable, and with the NY volume and Comex open, I expected price to either break up/down with decent momentum since there has been a lot of recent consolidation, like in pre-london/London session. Entered the trade using partials at 6am, and then entered 2nd position as price retraced. I closed 50% of 1 position as the liquidity grab broke previous candle lows, but re entered once I saw the comex volume continue bullish. Hit TP for a 1:4 RR trade, great start to the week and month. Always grateful. Stay curious!
FX:XAUUSDLong
by SoManyDistractions
Gold Trade Review: September 27, 2022I anticipated price to retest and break through the pre-ny high. Or if it couldn't, then price should return bearish on LTF as it is currently in a HTF downtrend - I saw the second scenario occur. Price failed to retest pre-ny high, and instead formed a resistance on the 30M (red circle). Then price closed below the London support, giving me a short bias. Once price made a LTF resistance (15m), and then continued breaking the lows, that was a confirmation for 1:3 RR entry. I secured partials due to some support that may interfere with this move, and moved SL to b/e. Did anyone else catch this move??
OANDA:XAUUSDShort
by SoManyDistractions
Study Sunday: Why I took this Gold Trade (1H/15m)I usually just review my trades privately but today I figured why not share if it helps someone else, or maybe someone has input that can help me too. The video is basically me reviewing a trade i took this week on gold (sept 22), and why i took it. I like to draw the candles out myself to consciously think about where price moves relative to the candles around it, then when i watch the charts I have a more intuitive feeling of how candles form and move and I know what I am looking for. I dunno if that makes sense or it is just a thing i do lol But here is another thought i have been thinking about recently regarding trading: I think that when you are trying to learn to be a profitable trader, it is valuable to keep your plan as simple as possible. And then build on it, and reshape it as you learn. But build slowly as you learn new lessons so you have a strong foundation. I see so many people that are in a rush, and that will only make you feel overwhelmed and eventually fail. I think it is especially difficult with trading because there is so much information out there and lots of people apply different strategies and have different opinions. It can be attractive to jump from one strategy to another if you feel like what you are trying is not working. And of course there are times when you must drop an idea to test another. But you should be doing so objectively and not emotionally. You should be able to measure the changes empirically as you make them. So that in the long run you build a trading plan that makes sense to you; that is the only way you will truly have confidence with trading. And you need confidence to grow an account because you will be risking a lot more with your future trades.
OANDA:XAUUSDLong
by SoManyDistractions