XAUUSD May 28 - Update
Aggiornato
!!! This is not a trading advice, Please do your own analysis !!!
Price moved as I expexted. Intersection of green support line from 1850 and bottom of descending white channel combined with -275 cci was a perfect buy position entry point where i engaged my trade with 4$ SL which is more than what I almost always used for high expected return trades (2.5$) because I also wanted to cover 1880. I closed the position at 1898, a little early actually considering price hit 1900 but ı wouldn't want to risk my profits. I am holding a sell position from 1900 now. Price might hit upperbound of white channel momentaryly. So I placed my SL right above it for now.
Conclusion: I expect drop to 1851-1853 (Fib61 of 6 Jan 2021) and which also has a support cluster between 1852-1855. Also where major uptrend channel passes.
This idea is invalid if price passes 1905. Above 1905, I expect price go up to 1923 which is Fib61 of Aug 2020! Do not forget to closely watch DXY which seems like returning in falling wegde!
Price moved as I expexted. Intersection of green support line from 1850 and bottom of descending white channel combined with -275 cci was a perfect buy position entry point where i engaged my trade with 4$ SL which is more than what I almost always used for high expected return trades (2.5$) because I also wanted to cover 1880. I closed the position at 1898, a little early actually considering price hit 1900 but ı wouldn't want to risk my profits. I am holding a sell position from 1900 now. Price might hit upperbound of white channel momentaryly. So I placed my SL right above it for now.
Conclusion: I expect drop to 1851-1853 (Fib61 of 6 Jan 2021) and which also has a support cluster between 1852-1855. Also where major uptrend channel passes.
This idea is invalid if price passes 1905. Above 1905, I expect price go up to 1923 which is Fib61 of Aug 2020! Do not forget to closely watch DXY which seems like returning in falling wegde!
Trade chiuso: stop raggiunto
idea is invaild, look for buy oppotunities around 1900
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