As i thought yesterday it would break the hourly top, but the current downtrend is taking too long for a retest, unless its a retest of some higher timeframe like daily or weekly which i do not know.
So i m waiting for clear signs of reversal in M15/30 to pick up at the pink zone. If reversal is at a higher price, but you see clear pattern and higher high higher low, take the entry at the last lower high of the downtrending momentum from before.
Be careful around 2.30 USD News. Gmt+2
So i m waiting for clear signs of reversal in M15/30 to pick up at the pink zone. If reversal is at a higher price, but you see clear pattern and higher high higher low, take the entry at the last lower high of the downtrending momentum from before.
Be careful around 2.30 USD News. Gmt+2
Note
Why i m not taking trades right now? Its hunt hour until about 3 pm gmt+2if you like to trade on manipulations go ahead, i prefer natural price action, its more logical to me.
Apart, News today might give us opportunity for bigger and more relaxed intraday moves...
Guys this is NOT a correction, because of so many DKLs near the zone, If you make some buck here selling in this market, you wont be long term successful.
Note
News was negative on DXY which usually means for Gold to go bullish. Eur and Usd News play together though and i dont have the results on Eur News..If candle closes above the green line i will use RSI for a pullback entry. This is middle risk. Take SL between 150 and 300 pip SL
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Exit 1 was already hit. But its a crazy day, i dient set BE yet. Here are possible Exits...What I also sometimes do, i use drawdown and exit earlier.. Because gold loves consolidating
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Exit 2 hit. Happy profits!Note
Look at gold O_o
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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.