XAUUSD Revision Thursday 19 December 2024
Hello Nation!
I had to wait for FOMC to conclude before doing this update. Let’s start with Gold opening at 2646 area. Price went straight bullish to the highest SBR level which was created by yesterday’s candles.
From there we can follow that price have a bearish reaction which ended up moving Sideways bouncing to top and bottom of the m15 for many hours.
While price doing so, i can also see my favourite setup developing which i marked with the m15 box. With price showing rejection from that box. That is a hint for me that sell entry was possible.
I mark the sell position with a risk of 30 Pips SL and TP of 100 Pips. Usually i will go down to lower timeframe like the m5 or m1 to precise my entry. But for these daily updates, i will stick with m15.
I have another SBR Zone at 2637 / 2638 area. But, as my m15 SBR was clear for entry. Time was too close to FOMC. Congratulations to those who manage to catch that sell entry. I chose to sit tight and just watch how Gold reacts to the news .
Conclusion for today, It was another sellers day. Hours of consolidation during London Session and we are ending the day with an estimate of 200 pips drop due to FOMC.
I am just sharing what i see. I am just taking notes for my own setups and maybe i can improve to be a better trader.
Thank you for reading and Goodbye!
I had to wait for FOMC to conclude before doing this update. Let’s start with Gold opening at 2646 area. Price went straight bullish to the highest SBR level which was created by yesterday’s candles.
From there we can follow that price have a bearish reaction which ended up moving Sideways bouncing to top and bottom of the m15 for many hours.
While price doing so, i can also see my favourite setup developing which i marked with the m15 box. With price showing rejection from that box. That is a hint for me that sell entry was possible.
I mark the sell position with a risk of 30 Pips SL and TP of 100 Pips. Usually i will go down to lower timeframe like the m5 or m1 to precise my entry. But for these daily updates, i will stick with m15.
I have another SBR Zone at 2637 / 2638 area. But, as my m15 SBR was clear for entry. Time was too close to FOMC. Congratulations to those who manage to catch that sell entry. I chose to sit tight and just watch how Gold reacts to the news .
Conclusion for today, It was another sellers day. Hours of consolidation during London Session and we are ending the day with an estimate of 200 pips drop due to FOMC.
I am just sharing what i see. I am just taking notes for my own setups and maybe i can improve to be a better trader.
Thank you for reading and Goodbye!
If you like what you see, grant me a follow and blast me a boost. Do share your thoughts in the comments.
Catch my videos on Instagram and TikTok.
They are mainly about how i got into my entries.
linktr.ee/TraderMann
Catch my videos on Instagram and TikTok.
They are mainly about how i got into my entries.
linktr.ee/TraderMann
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