XAUUSD Analysis - 15/07
We have been continuing to see buyers print new highs and take profits at those newly created intraday highs to then watch the pullbacks which still respect BMS (Bullish Market Structure) on HTF. Taking into consideration that tomorrow we have Retail Sales Data + EOW (End of Week) since we usually see market corrections on Friday's for whales to better position themselves for the following week. Retail Sales data if lower than expected then that translates into consumers not spending due to inflation increases = Cost of goods are higher so they are not purchasing as much which impacts money flow in the economy. Lower data would also match and correlate with this weeks CPI and PPI data.
Buys:
- MRMR(Medium Risk Medium Reward) buys at 1820 KL if price fails to break and creates a DB (Double-Bottom) on 1-min TF
- Safest buys above 1836 KL with HTF candle closures, then looking for a re-test of the KL on 1-min TF to enter trade with proper risk management.
- HRHR (High Risk High Reward) buys at 1812.500 KL if price fails to break and creates a DB on 1-min TF. This KL is stronger since it was the resistance of a previous order block before seing our Bullish continued move to the upside.
Sells:
- HRHR Sells between 1833-1836 KL if price fails to break resistance
- Safest sells below 1803 at the break of BMS
End of week tomorrow + Retail Sales Data = Manage your trades properly. Do not over-trade, over-leverage and keep emotions away from the charts. Stick to your trading plan.
#secureprofits #nofomo
Buys:
- MRMR(Medium Risk Medium Reward) buys at 1820 KL if price fails to break and creates a DB (Double-Bottom) on 1-min TF
- Safest buys above 1836 KL with HTF candle closures, then looking for a re-test of the KL on 1-min TF to enter trade with proper risk management.
- HRHR (High Risk High Reward) buys at 1812.500 KL if price fails to break and creates a DB on 1-min TF. This KL is stronger since it was the resistance of a previous order block before seing our Bullish continued move to the upside.
Sells:
- HRHR Sells between 1833-1836 KL if price fails to break resistance
- Safest sells below 1803 at the break of BMS
End of week tomorrow + Retail Sales Data = Manage your trades properly. Do not over-trade, over-leverage and keep emotions away from the charts. Stick to your trading plan.
#secureprofits #nofomo
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