After a successful week of 6 profitable trades & one breakeven we view our next position on XAU.
Are you can see there are a few factors affecting the current price of Gold.
1) H&S
2) Descending Channel
3) Strong support & Resistance
4) Critical News
The best approach to trading these levels are wait for a confirmation run in either direction. The target is our green boxes.
1) Look for a 1820 Support break
2) Look for 1835-40 Resistance break
With all positions engaged wait for proper confirmation to enter with appropriate stop loss levels & Take profit areas.
Are you can see there are a few factors affecting the current price of Gold.
1) H&S
2) Descending Channel
3) Strong support & Resistance
4) Critical News
The best approach to trading these levels are wait for a confirmation run in either direction. The target is our green boxes.
1) Look for a 1820 Support break
2) Look for 1835-40 Resistance break
With all positions engaged wait for proper confirmation to enter with appropriate stop loss levels & Take profit areas.
Trade active
Long executed 1833Trade closed: target reached
TP 1840 & Keep some position breakeven
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.