XAUUSD TRADING ANALYSIS

This was a good trade for a swing. Still good you took profit.

At least the consolidation is finally over, and we're confirmed bullish on gold today.

Instant execution still gave you a clean entry, if it was pending order, you would have missed the buys.

Instant execution was the best fit for this Gold buys.

Had thought you caught the sells

This sell was a pullback and it's good you were swift in changing your scalp bias.

Consolidation phase often requires a lot of patience.

price created double bottom, and then rally strongly. Expecting shallow pullbacks.

Am sure gold pullback has just started

Gold has broken key levels that we expected now is the time to look for available opportunities at pullbacks to trade, looking at the chart image there are 3 fvgs and the second one is at demand, at 38.2 to 23.6 level

Price will drop down to that level, right now it's making a head and shoulder pattern, I will wait for the neckline to get broken then I will join the sells for at least 500pips then close

Due to the buying momentum, you don't expect price to reverse so easily at that level

Looking at it closely the pullback has already started, so it's just to follow the trend and don't trade against it

I didn't take the trade on gold but my plan today is to trade the head and shoulder pattern am seeing and if price breaks the neckline am buying

I wont rather wait for the buys so I have to seize the opportunity and then take this sells down to the demand level since price is forming a head and shoulder pattern so once the neck gets broken I will sell

That's a good start for gold and now it's the time to trade it, just waiting for the pullbacks to a discounted level to buy according to the trend

The first entry was instant execution yeah, but the second was a limit order, when price retraced back, I did an instant execution because I didn't want to miss the buy but also set a limit should incase price gets there I should be triggered and also close once price gets above my first entry

I didn't, that was why I reassesd and caught the buys

I knew the overall trend, both fundamentals and technical, so even when scalping I take the side of the overall trend, that was why my tp was set at that level

It is a normal thing that happens in the market , infact that is how price moves but most times In a lower timeframe, the expansion has given opportunity, waiting for the pullback to demand before I buy