XAUUSD | Perspective for the new week | Follow-up details
Updated
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This is a follow-up video to my previous analysis where we closed the week with a profit of over 5,000 pips ( see daily commentaries in the link below for reference purposes). Gold has witnessed its worst-performing week in recent times as US Yield hit a 14-year high to close around the $1,640 zone. As we head into the new week, we are not sure if a trend continuation to the downside will be happening since there are no high-priority events that will be serving as a catalyst for price movement this week.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
This is a follow-up video to my previous analysis where we closed the week with a profit of over 5,000 pips ( see daily commentaries in the link below for reference purposes). Gold has witnessed its worst-performing week in recent times as US Yield hit a 14-year high to close around the $1,640 zone. As we head into the new week, we are not sure if a trend continuation to the downside will be happening since there are no high-priority events that will be serving as a catalyst for price movement this week.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
Multiple rejections of the $1,645 area make a new demand zone and this level could be serving as our yardstick for trading opportunities this week. We continue to monitor price action as trading remains between $1645 and $1653; the current structure supports a bullish momentum aiming at the key level at $1,680 as a TP target in the meantime. However, if a breakdown of the $1,645 happens, then we might be looking forward to a trend continuation to the downside.Good morning
Trade active
UPDATETrade active
Over 1,000 pips in profit; moving stop-loss to secure positionTrade active
UPDATELooking forward to adding position as soon as buying pressure is observed
Trade active
Break-even.The price comes back to the entry zone... Buying options as long as price action remains above the $1,645 area. Buy zone was identified to simplify visual monitoring as we look forward to patterns supporting bullish momentum lower time frame.
Trade active
Position secure: Looking forward to adding position at the breakout/retest of the trendline. However, should the price breakdown the bullish trendline, that could be a sign of a momentum shift.Good morning
Trade active
Price action is still within a consolidation phase as the price remains within the identified demand zone above the $1,645 zone.Trade closed: stop reached
After being taken out of the buy position in a loss; a breakdown of the $1,645 level (which has been our guide since the beginning of the week) establishes a bearish signal hence the need to look out for a set-up that supports a bearish momentum becomes important.Good morning
Trade active
UPDATESelling pressure identified below the $1,645 level
Trade active
Securing position; To see if the market will present a second opportunity at a retest o structure.Trade active
1,400 pips in profit; securing positionTrade active
Updateposition secured
Good morning
Trade active
Bullish momentum coming in.... Ensure that some profit has been locked in.Going in for the live session now, Update coming soon
Trade active
Taken out of position with 1,000pips as price action comes back to entry zone. Now, we might be witnessing a trend continuation as the price comes back to the retest structure that was broken yesterday at around the $1,645 area. So, lets see how price action will react to the sell window identified at this juncture.Trade active
UPDATETrade active
Over 2,000 pips in profit ar price edge toward TP target. Securing positionGood morning
Trade closed: target reached
Trade closed with 2,700 pips profit
Trade smart. Trade consciously
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