Hi guys, new in trading. I'm just sharing my thoughts on my trading plan and please feel free to comment if my analysis is helpful. Kindly appreciate any feedback as well
Gold XAU/USD forming H1 W pattern. Yesterday, January 13 it retraced from 1862 resistance and straight-shooting down to the bottom at 1834
Couple of reasons for long:
- Forming W pattern
- Fundamentals and geopolitical news sentiment are bullish
Another strong supporting argument to long if:
- DXY moves down in favor
- Stochastic is in uptrend
Only ENTER AT 1860-1862 (if consolidate in the area of 1860-1862 definitely a buy)
TP 1870-1885
SL 1860
Gold XAU/USD forming H1 W pattern. Yesterday, January 13 it retraced from 1862 resistance and straight-shooting down to the bottom at 1834
Couple of reasons for long:
- Forming W pattern
- Fundamentals and geopolitical news sentiment are bullish
Another strong supporting argument to long if:
- DXY moves down in favor
- Stochastic is in uptrend
Only ENTER AT 1860-1862 (if consolidate in the area of 1860-1862 definitely a buy)
TP 1870-1885
SL 1860
註釋
EMA 200 (Daily) support bounces gold from 1834 upwards if it breaks 1834 possible to short.. will look into where to OPPlease note that weekly/monthly trends are still bullish. shorting 1834 is counter-trend
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