Gold (XAUUSD)Long
XAUUSD Bullish Ideea!
I'll leave here my strategy based on SMC (Smart Money Concept) combined with Fib Extension!
🌟First of all, I marked a Resistance in the 2721 area
🌟After completing a double top chart pattern, I noticed that the trend starts to become slightly upward
🌟Starting from the impulsive move I marked a Point Of Interest (POI) known as a strong demand zone
🌟I located the supply and inefficiency (FVG) areas and then with the help of both Fib Retracement and Fib Extension I determined that the price is in a confluence area where MA (200), Swap zones and Fib Retracement value 38.2 meet in a corrective move
🌟As you can see from the analysis, I expect the price to reach that inefficiency, to retest that supply that will later become demand and I will have a target close to resistance, more precisely at the 100% Fib Expansion value
🌟I claim that this gold strategy in particular has brought me substantial profits in the past as well
🌟If you like what you see please leave a boost and a follow!
Entry Price: 2636
Stop Loss: 2628
Take Profit 1: 2682
Take Profit 2: 2690
Take Profit 3: 2710
🌟First of all, I marked a Resistance in the 2721 area
🌟After completing a double top chart pattern, I noticed that the trend starts to become slightly upward
🌟Starting from the impulsive move I marked a Point Of Interest (POI) known as a strong demand zone
🌟I located the supply and inefficiency (FVG) areas and then with the help of both Fib Retracement and Fib Extension I determined that the price is in a confluence area where MA (200), Swap zones and Fib Retracement value 38.2 meet in a corrective move
🌟As you can see from the analysis, I expect the price to reach that inefficiency, to retest that supply that will later become demand and I will have a target close to resistance, more precisely at the 100% Fib Expansion value
🌟I claim that this gold strategy in particular has brought me substantial profits in the past as well
🌟If you like what you see please leave a boost and a follow!
Entry Price: 2636
Stop Loss: 2628
Take Profit 1: 2682
Take Profit 2: 2690
Take Profit 3: 2710
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