XAU/USD 16.08.2023

XAUUSD

Hello trader,

For today, my focus is on seeking long positions. My initial trade idea involves an entry around 1903. I'm anticipating a potential bullish pattern to form within this support zone.

As for my target, I have two options in mind: either aiming for the first resistance zone or targeting the -27% Fibonacci retracement level.

Remember to closely analyze the price action and market conditions before executing any trades. Best of luck with your long positions!

Operación activa:

The Trade is now active lets see how it runs

Comentarios:

If we can't see a clear break of 1905 and the DXY becomes bullish, I'm out. But let's observe the next two-hour candles.

Comentarios:

DXY stays above its 4-hour trendline. As long as it doesn't remain above it, I would say the trade is still favorable. However, if we observe more bullish momentum on DXY, I would suggest closing this position and waiting until after the news.

Comentarios:

I've now entered another position at 1905.60

Comentarios:

Unfortunately, we're a bit stuck for now. We need to see some bearish momentum in DXY to continue moving upward

Operación cerrada manualmente:

closed