Gold Spot / U.S. DollarUpdated Gold +6 Profits - Next Setup!
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
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