Symbol - XAUUSD
CMP 2147
A retracement is pending in XAUUSD after a huge up move.
Taking short position in XAUUSD at CMP 2147
SL - 2160
Expected Targets - 2125, 2112 & 2090
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
I looking for buy but i manually close previous trade because gold not taking any idm.
Now CHoCH confirmed on gold.
i am looking for this type of entry..
After taking out 15min major low gold gives confirmation of trend changed.
After CHoCH gold not taken any inducement.
Marked X is a inducement till not break 1965.
If break 1965 inducement shift to next pull back.
There is also a fair value gap marked as IMB
Fair setup will be if market sweeps 1st inducement and candel close below it then can take a fair entry on...
As per my calculations and previous chart history, I am going short but with tight stop loss according to my risk management and I will set a buy stop in that case..
All main points are also projected on the chart...
Please do your own research before taking any decision of trading in this volatile market...
Local Support @1920.079 and
Sell Stop @1929 with
TP1...
Gold , Before last week, I just named a structure as Umbrella pattern, and it went really bearish with super sell signal,
again i marked out today in a 1HR chart with a Small umbrella, which provides a foundation for a bearish move..
XAUUSD may look to go around 1770 - 60 area this week.. let see..
Analysis only for education purpose..
Last week bearish scenario in Gold against Dollar pair, may continue this week, price may go up to the price area of 1925 , where the Resistance for this set up, from there it expected to continue its bearish move this week,
Note- Analysis given for education purpose...
Xauusd trending within the triangle from the August, and it tries to escape down from triangle in mid of september, strong resistance above the head push the price lower and added to that Dollar index also looking bullish at the same time, Rest of the week could be the sellers domination in this pair.. expected to go down atleast 1890 area..
Note - price action...
