XAU has made a range. Although we are strongly trending upwards, a break of either of the zones would be a opportunity to get in. Based on a sell analysis, a break of the blue line on charts would give the signal. Ideally would look for a impulsive move down for entries via BR/ further structure breaks on LTF. Currently shifting into NY volume, so we may have a...
I have set the areas of buys and sells on chart. A clean candle closure breakout outside the NO TRADING ZONE would be the confirmation of bias of trend. CPI news from yesterday 1330 printed huge sell off on XAU. Therefore, we could see a retracement and therefore I am in favour of buys. But need to always be prepared for sells.
We can see clean PA on the left (wick fill). A Clean break above 2027 , price retesting and continuing to the upside. Entry post retest should give you a clean 1:4RR to 2035 with stops below the retest candle.
Clean structure printed. Sell stops & Buy stops in place with reduced risk to trade USD CPI.
CPI approaching us in just over an hour. Structure made, price will likely continue to consolidate prior to the breakout. I am anticipating a sell. Ideally we want a BR below the local support. However a sell stop prior to news release will be sufficient.
Ignoring the trendlines. We are currently at a support which consolidation at the support. Expecting price to reach back to 1.27 and long term targetting 1.300 handle prior to major election timings.
Swing to the upside (refroy) Reversing at handle 179, we could potentially see it reaching back to the 184 region with first targets meeting 181.500 mark.