XAUUSD | New perspective | follow-up details

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Following another profitable week for us on the XAUUSD (see link below for reference purposes); Gold hit a one-month high on Friday with strong signals that it may be ready to break free of the mid-$1,800 - $1,820 range it has been trapped in the past four weeks. Following the Labor Department reporting a number that again beat forecasts but not as much as in January, a smaller rate hike of probably 25bps looks more likely as against the broadly anticipated 50bps. In this video, we looked at the market strcuture from a technical standpoint with the hopes of identifying a potential trading opportunity ahead of the new week.

Trade attivo

Though the week has started on a bullish note as price action is caught within a consolidation phase. We are going to be patient for a break out of structure for trading opportunties.

Good morning

Trade attivo

Secure buy position

Trade attivo

Secure the buy position as we look forward to more opportunities at the breakout/retest of the $1,915 zone. However, a breakdown/retest of the $1,904 level will welcome selling opportunities.

Good morning

Trade attivo

Sell position still running in a loss as buying pressure resumes above the $1,904 level

Trade attivo

The sell position still running and back into the profit zone after running in a loss in the last 24 hours. The newly identified bearish trendline will serve as a yardstick for trading activities for today.

Good morning

Trade attivo

Just as discussed during our live session today; secure all sell positions

Trade attivo

Buying pressure resumes as all sell position is taken out with a small profit

Trade attivo

Secure buy position

Trade attivo

Trade chiuso manualmente

So, price action takes out the buy position with a small profit

Trade chiuso manualmente

1H Timeframe

Nota

We are at a confluence as we anticipate a potential move to either side. So, the bearish trendline will serve as a yardstick for a trading activity for today. Update coming up soon or join our morning live session for detailed technical insight into the current structure.

Good morning

Nota

Trade attivo

Just as discussed during our live session today; secure all buy positions

Trade chiuso manualmente

Selling pressure resumes, taking out all the buy positions with a small profit. A breakdown/retest of the bullish trendline and $1,920 level will be welcoming selling opportunities.

Trade attivo

Just as projected earlier, the breakdown of the bullish trendline insinuates selling opportunities as price action takes out the buy position>

Nota

Buying pressure negates bearish expectations. Let's see how price action reacts to the $1,930 level for trading opportunities. See you at live session

Good morning

Trade attivo

Structure identified during our live session; secure buy position

Trade attivo

Secure buy position

Trade chiuso: obiettivo raggiunto

1,700 pips in profit as price action hit TP target ahead of the Consumer Sentiment Index release

darcsherry

Trade smart. Trade consciously

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XAUUSD | New perspective | follow-up details

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