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$XAUUSD TECHNICALS STUDY TIME
Most of the Pattern traders that got burnt today were selling an M- Pattern
Its only valid when the price closes below the Neckline
whenever price holds above it , the prevailing HTF Trend continues hence the BUYS
Thats exactly why I was buying with SL below the Neckline
$XAUUSD PROBABLE UPSIDE
Last week Sells were anticipated below 4450 and I was expecting deeper retracements towards 4270s ,
However, bulls are holding firm above last weeks low finding support above 4325
I am considering low risk buys at 4345, with Targets at 4410 & 4475
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$XAUUSD PROBABLE CONTINUATION
If Gold price holds below 4450 Resistance,
I am considering further sells below 4405 with 4370 as targets , and watch for potential bull rebounds at 4275,4170s
I am avoiding the extreme Greed train of buying Gold at the daily TF resistances despite soft CPI data
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You donโt need a larger account.
You just need fewer stupid decisions
controlled losses ( -1%).
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As a man you are always working hard so that you can give the best life to yourself, family and be useful to people around you
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Losing your loved one before they enjoy the best version of you will always hurt
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$XAUUSD TRADE IDEA
Gold prices fell in Asia, amid a strong dollar with 4120 holding strong
been on cautious buys post FOMC but Bearish structure still holding from recent weeks
if 4045 fails to hold up, sells may prevail towards 3930s. may consider buys post NFP if jobs data comes soft
XAU Over the last six weeks it has repeatedly tested and rejected the low-to-mid $4,100s without establishing any meaningful HHs.
Resistance near $4,150s has held firm (NFP Highs), while support around $4,000 has so far contained the downside.
That leaves the chart looking like โsellers still in control on the LTFs โ even as longer-term fundamentals (Energy crisis, rate-path expectations, liquidity, geopolitical hedging) remain constructive .
Gap-fill / AOI buys around the 4040s therefore sit right in the middle of the current consolidation rather than at a clear breakout level Creating a confusion (the design of game)
I am Expecting a further fade or shakeout of the early bulls who stepped in on the fundamental thesis, before any sustained upside leg develops (or fails).
particularly the FOMC tomorrow and energy-related moves will decide whether the range resolves higher or Downside prevails retesting 3930s, 3900s
But I Love Your Conviction ๐ช
$XAUUSD OUTLOOK
GOLD extended its gains from dip buying below 4000 and now faces critical bearish pivot of 4135-50 level
above that we can expect long term buys towards 4250 .
If 4135 holds, expect deep retests to 4055, 4015 & 3950 in extension
key levels: 4135, 4055
watch and react accordingly
$XAUUSD SELLS
Yesterday 98% of the TL was filled with Gold setups puming to 4300๐
I held my composure and stuck to my Post NFP plan
changing your bias based on other people's sentiments is the reason it's taking you long to make it
I am holding this through CPI and will be watching at 4000 mark โผ๏ธ
Have a profitable week Gs
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I was only $1.9 USD away from blowing my Account
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Thanks so much @Khldfx for your kindness๐
@ronna256