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Long XAU/USDYesterday I posted a short idea for XAU/USD, however because its been in a ranging environment last week, its difficult to really determine what the price will do next. So I thought I'd share an alternative bullish scenario. From a price action point of view, break of the recent high, double bottom and break through structure point to a bullish momentum as indicated in the chart. However, because of huge unexpected downward push on EUR/USD yesterday (30/04) and the fact that bulls are currently playing a tug of war on xau/usd, it makes me question if we're not about to be faked out before further collapse -> refer to the previous chart. Break from the ranging environment will provide an indication of what to do next. Which side are you guys on?
FOREXCOM:XAUUSDLong
by Katherineszew
3
$2,300 Gold?Here's what I know: - Gold is in an uptrend - It put in a nearly perfect 50% retracement - Good support at ~$1,760 What to look for: - break of the trend line...ideally two bars closing above with a touchback. - further weakening of the USD What to do? - Start adding long positions now with stop loss around $1,750. - Add to long position with break of trend line. - Once the trend line is broken as per above, move stop loss to just below low of touchback level. - Target $2,300...continue moving stop loss higher along the way. Easy peasy.
TVC:GOLDLong
by Days_Off
2
GOLD TARGET TO REACH 1200 PIPS SETUP QM BUY VHRTFX Forex Rules 1.0 Trade Process First Phase Find supply and demand in daily/h4 draw a line or box Find pattern(quasimodo/HNS/KING/Engulf) in h1/m15 HIGHER BETTER, snr in area snd of (1) The setup sl must below 5% from capital / Ratio 1:2 above (DEPENDS ON TIMEFRAME AND CHANGE LOT SIZE WHEN SL IS BIGGER) Plot everything on the chart and mark the setup Entry and forget (Stop loss and Take Profit is compulsory) Second Phase Almost hit tp set be Do house work or Backtest ss or go productive Third Phase Hit Sl and lost 5% from capital stop trade for the rest of the day Hit tp and reach target also stop trade for the rest of the day Extra Profit withdraw or transfer to account wallet 2.0 Type of Account Money Management 2.1 Account Control Money Management ( CMM ) Risk 1-3% recommended for 2% from capital per day trade Leverage 1:15 or below so we not using over lot size Target 5% to 30% per month and withdraw the amount that exceed 30% profit When current day have lost reach 3% or 2% Stop Trading for the rest of the day 2.2 Account Full Margin ( FM ) Only trade 1 pair Leverage set the highest your broker can give prefer 1:2000 Never use stop loss Preferable using extra profit capital only!!! Gold , Silver , GBPUSD , GBPJPY Setup Quasimodo, Kink King
TVC:GOLDLong
by UnknownUnicorn11356665