Hope you are fine. How is your trading going? Today, we examine the weekly chart of XAUUSD. As discussed in my last blog I made you all understand that gold will go down and told you about the being high on liquidity stage. XAUUSD weakly FVG test complete and a bullish close. Tested region was 2355 to 2340
I was expecting XAUUSD could re-test 2369.300 level and pull back from there of course. But also remember that the market could attempt to test 2355-2340 and 2332. This suggests that if the market tests these levels it is expected that pair will be placed higher. Note that you need to qualify all requirements for an entry before taking the trade.
Once the weekly open/closes with a test below in an up direction of heading high and 2332 closes at for a daily wick candle wait until all entry requirements are signal to be something. We should see upward for the weekly timeframe. I am expecting markets to upside in this week with new jobs data coming.
Following all entry requirements (liquidity, FVG and momentum shift are also crucial. This will ensure that you try to make as well-thought-out and profitable trades possible. Keeping an eye on these key levels and decelerations that follow to adjust your tracks can give you a different perspective of the market movements.
Looking at the weekly price action, XAUUSD is poised to confirm upward momentum once it tests decent levels. Going forward, if the market continues to respect these levels and exhibit a nice bullish trend then we can predict the price will go up. And Always Remember To Use Proper Risk Management And Wait For Clean Entry Points Before Entering the market.
0 Comments