XAUUSD TRADING ANALYSIS

Though it has not broken above the last month high @ 4181.606 that was formed on June, untill that high is taken out then gold structure is still under verification

My plan is to wait for a break about 4116.684 before I trade, so I will be sure that gold has started printing higher lows

Price didn't just react from that level it took out that 1hr level that I marked with the shape

I was lucky I didn't sell again because there wasn't a good reaction at that level I planned to sell from, gold rallied up to 4116.684 and rejected again from there, but I am waiting for it to break above the 4116.684 level for me to buy from there

Same here and price will also start protecting the lows

I'm really expecting price to buy and take out those equal highs

And coupled with how price was bouncing off the resistance, it was just fishy

My gold trade went well but was very tempting, it's better to adjust to than to adjust SL

If price takes out that equal high then that will be even more confirmation, for now am just scalping base on lower timeframe confirmation

Why did price just turn from your tp price

I didn't know what was really going to happen for sure but i knew that with fed news coming I should be cautious, and definitely price raided the rectangle shape level I marked

I adjusted my tp and took profit o, because I was seeing the rejection

This is good Tp hit

Gold is just ranging and it hasn't broken a significant structure yet

I just love gold you can easily scalp and get little money , but for currency you can't scalp and get a reasonable amount except you use big lot which i am not ready to do

Even if it hasn't break a significant high it is printing protective lows look into that too