XAUUSD has been in such a slow range lately, seems like price is in. a consolidation phase, as if an upcoming downtrend is yet near again. I have some strong sell positions in place and setting another short sell just to catch today's move. Let's see how this day rolls :)
@delrosariohanan I think this analysis is not valid anymore...its broken 1799...
delrosariohanan
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@ryanpope1984, position is still open as it hasnt hit my SL yet, so this is still valid.. still waiting for that bearis move :)
ryanpope1984
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its climbing more bulls momentum there is no bears momentum at all without US yields ....1762 is not a target anytime soon at least certainly not 4H TF :)
delrosariohanan
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@ryanpope1984, typical Gold move if you follow it, i did the same thing yesterday and clocked in some profit. I may be wrong, but let's see, im seeing a bearish move forming..my first line of support is actually at 1755 but setting my TP at 1762 for quick exit :)
ryanpope1984
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@delrosariohanan, won't reach der anytime soon without support from yields...u see bulls is having more momentum..now its 1786 and climbing...u see it goes up in mins ( a minute ago it was 1785) but comes down a bit in hours and then gain goes up 3x in a matter of mins this has been the frustrating game since the past 7 days ..... i don't see it reaching your TP target in even a 4H TF OR 1D TF :)
delrosariohanan
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@ryanpope1984, it's been consolidating since Monday. Last time, just when we thought Gold wont reach 1720, it broke down to 1677. easy strategy for Gold is to know your resistance levels but set realistic TP's. Like what I said, day isnt over yet, let's see how it'll roll.. but set my SL too if in case.
ryanpope1984
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@delrosariohanan, sure noted..lets wait n see..appreciate ur analysis...its good :)
delrosariohanan
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@ryanpope1984, thanks as well, im not a pro but just trying to share my insights as to how il trade it, easy in-easy out :)