XAU- The Big Payback
So NFP, Did not go as the previous posts suggested, Now we have a massive collapse in XAU and a rallying of the $, BUT we have since made a potentially better set up, because now the 4H chart is making this Gartley Harmonic after a markdown from the $1900 levels. This structure can act as an accumulation, We can look to buy XAU upto $1830, and the 1.618 extension as a far target at the price $1910. The important thing to remember with these harmonics, is that everything I am sharing is over 1:3 RR, this means breakeven is somewhere between 25%-33% winrate, When the next set up comes I take it.
Trade active
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$1765 and $1761, Revenge shall be sweet.Note
*Bat not gartley...Note
Take some profit @$1790 and $1830 if we get there.Trade closed: stop reached
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Man gold be out here wilding right now hahaNote
So now we have two good trades, and two crap
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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.