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Gold-trading

XAUUSD A Killer Wave C of Corrective B?Gold sharply rose from 1804 to as high as 1914 mitigating the larger Weekly Order Block. There might be though an opportunity to sell if price misbehaves on the range 1919-1927 and a potential 4:1 RRR with a risk invalidation above 1959 targeting 1765 which was the extreme of the previous Wave (B) of last Impulsive Wave A. Disclaimer: Elliott Wave Analysis is not a perfect trading system and it is necessary to always have applied risk management and strict compliance to confirmation as well as Invalidation levels. It only has the capability of advancing potential market direction base on its printed data. Actual market data will also provide flexible variation for the wave count. Risk only base on your tolerance. #marketpainterph #elliottwave #XAUUSD #GOLD
OANDA:XAUUSDShort
by marketpainterPH
Key Levels and Market overview for the Asian session open 2/03A review of the price action from the European session and US sessions which gave us some choppy price action. Markets remain under some pressure from sellers with DAX and FTSE giving back earlier gains while the US edged lower. The USD found some sellers which supported Gold while US bond yields rallied again and Oil ranged....mixed bag really!! I look at some key levels to watch and the price action setups I expect to see play out. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
Gold (XAUUSD): Important Decision Ahead! Your Plan: 🟡 Hey traders, Gold dropped sharply on Friday. The price has quickly reached a support line of a rising channel on a daily. Important decision is ahead! If the price breaks and closes below the support of the channel, a bearish continuation will be expected. Next support will be 1832. Alternatively, the market may start coiling on a trend line. You can look for an intraday confirmation to buy, expecting a pullback. I will post an update once I see a confirmation. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDLong
by VasilyTrader
7
BUYING DIPS/SELLING TOPS - KEEPING A CLEAN PSYCHOLOGICAL PROFILEHey Everyone, Here at GVFX, we are currently buying dips. What that means is that we buy on the dips and therefore only concentrate on long positions/buys with the odd sells for fun. As mentioned before, having both sell and buy positions open in your account will affect your psychology and in turn, your trading decisions. Now a question that typically arises here is why would it still be advisable to buy when the market is pushing down? Firstly, let me assure you that the same algorithms, experience and strategies that we use to achieve a 97% hit rate with our bullish directional bias also gives us the heads up, or down if you will, on when the market is going down. Don't think for a moment that we only know how to analyse a bull market or up trends. We share targets/signals for both buys and sells but choose not to hedge out of choice. Our published results remain consistently profitable month in month out!! In my experience, in the current market conditions, it is much safer to get out of a stuck buy position than a stuck sell position. That's not to mention the clean PSYCHOLOGICAL PROFILE that is achieved when trading in just one direction. And although hedging can in theory work, it requires years of experience and in the end, is simply not worth the effort. I am more than capable of hedging effectively but the fact that I do not should tell you something. Let us look at an example to further answer the question highlighted above. When you have short-term bearish momentum down, we take buys from key supports or MAs which act as dips. Remember that the market does not go up or down in a straight line (with the rare exception of short-lived parabolic moves). So, when the market is going down and hits one of our key levels, a buy from that point will go back up for 20 to 30 or 30 to 40 pips (this number of pips has been calibrated based on back testing) before resuming back down. You can think of it like this. The market moves in a zigzag manner. The zig is that part of the leg which is going down to create lower lows (if the downward trend is continuing). The zag is that part of the leg which takes a breather and pushes back up with momentum for our entry and quick pip-take range to create a lower high (if the downward trend is continuing) before heading back down again. We catch the right and safest waves (buys) in and out and surf to success. When price hits a key structural support or stops creating lower lows and lower highs, we then reassess for entries with a wider range of pip capture. Hope this post helps our followers to understand how we keep our psychology strong!! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
26