XAUUSD | New perspective | follow-up details

Gold prices sliced through the key 2 ,000 level on Tuesday after a sharp drop in U.S. job openings in February. The yellow metal touched its highest in one year on Wednesday as recent U.S. economic data fanned fears of a slowdown and spurred bets the Federal Reserve may ease up on rate hikes. Following the public holiday on Friday, we were not able to see the immediate reaction of price action to the NFP reading which revealed additional 236,000 jobs in March. In this video, we took a technical dissection of the current market structure to identify a simple set-up to guide trading activities in the coming week(s).

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.

Handel aktiv:

Price action finally breaks down the key level at 2,000.000 level to start the week on a bearish note. The bearish trend line and the channel between the 2,008.000 & 1,989 zone will be a guide for trading activities for today.

Good morning

Handel aktiv:

Fall out from our live session

Kommentera:

Outlook on 15-minute time frame

Handel aktiv:

Secure the sell position now

Handel aktiv:

After been taking out of the sell position with a small profit, we look out for new opportunities this morning. The appearance of buying pressure might lead to break out of structures today. We shall look at this in details during the live session.

Good morning

Handel aktiv:

Secure buy position

Trade stängt manuellt:

Price action takes out the buy position as selling pressure resumes. Anything can happen at this point as price action oscillates around our key level at the 2 ,000 level. Our plan is illustrated on the chart... update coming up soon

Handel aktiv:

The Breakout/retest of the bearish trendline has confirmed a theoretical trend continuation pattern.

Handel aktiv:

Two buy positions running with over 200 pips in profit; secure all positions.

Good morning

Handel aktiv:

UPDATE

Handel aktiv:

Buying pressure is observed. Let's be careful as we are at a critical point where selling opportunities could come in if price action breakdown/retests the trendline and the 2 ,008 level as we await the CPI an hour from now.

Handel aktiv:

Secure the current buy position as figures from the CPI came in just as expected.

Kommentera:

NOTICE

We are waiting for 1H candle to close on all pairs for our next line of action.

PATIENCE!

Handel aktiv:

Buying pressure still exist

Handel aktiv:

Secure the buy position

Handel aktiv:

Still on track - 140pips in profit, secure buy position

GOOD morning

Handel aktiv:

The second position was triggered at the breakout of the 2,020 level, securing all buy positions.

Handel aktiv:

Third position triggered as price action find new high, secure all buy position

Handel aktiv:

All positions are secured as the trendline remains a guide for our trading activities today.

Good morning

Handel aktiv:

In the just concluded live session, we discussed the potential of both buyers and sellers from this market structure.

Kommentera:

UPDATE

The US Dollar is likely going bullish following the negative variance from the CPI and retail sales readings. Updates coming in soon

Handel aktiv:

Secure all sell positions as we look for more opportunities

Handel aktiv:

Handel aktiv:

Multiple entries with approximately 1,000 pips in profit; secure all sell positions as we look out for more opportunities.

Handel aktiv:

Kommentera:

Happy weekend everyone!