XAUUSD TRADING ANALYSIS

A
@asuquokelvin - 2 days ago
Quoted - godspowerdan

How did this go

I couldn't enter the trade price was just too fast

A
@asuquokelvin - 2 days ago
Quoted - godspowerdan

How did this go

Position for another opportunity, using fib retracement tool, want to see a rejection from the 73.6 level and a break below a key structure on 1min timeframe

A
@asuquokelvin - 2 days ago

Gold still not giving the reaction that I want, waiting for price to get to the rectangle level but didn't reach there and it's reversing closing for now till 2:30pm

N
@nsg_usd - 2 days ago
Quoted - asuquokelvin

Gold still not giving the reaction that I want, waiting for price to get to the rectangle level but didn't reach there and it's reversing closing for now till 2:30pm

Today is Monday. Price is still setting up for the week. I'll just wait for a decline down to 4100, while still holding on to my Long Setup.
Entry: 4111
SL: 4066

A
@asuquokelvin - 2 days ago

On gold buy, still holding my position will be closing soon not holding till tp because am trading against the trend

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@asuquokelvin - 2 days ago
Quoted - asuquokelvin

Closed out in profit after adding two more positions

The trade idea was basically Frame around price reaction, between gold and vix, the circle high was initially been taken out by gold, the red arrow is pointing the trigger candle which is a bullish engulfing candle, I watched vix price on the 1min timeframe and noticed it was selling and then all I had to do was wait for gold to take out the high I circled, although price reversed but had to hold my positions open untill price reversed which means i entered early i should have waited for gold to go back to the lows , after the breakout of the internal high I encircled

N
@nsg_usd - 2 days ago
Quoted - asuquokelvin

You were holding a gold buy last week are you out or still holding

I closed out this morning.
I spotted the double top formation at the 4190 price level when price started the week with buys but was struggling to break above the zone.
Also the 4hr engulf from the zone and the trendline resistance added as exit confirmations.

A
@asuquokelvin - 2 days ago
Quoted - nsg_usd

I closed out this morning.
I spotted the double top formation at the 4190 price level when price started the week with buys but was struggling to break above the zone.
Also the 4hr engulf from the zone and the trendline resistance added as exit confirmations.

That is good at least you closed out in profit because I spotted the gold reversal since last week, but due to the fact that previous studies confirmed that Tuesday or Wednesday can come back to Friday highs and sweep liquidity again so I don't always trade Friday levels immediately once the week starts

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@nsg_usd - 2 days ago
Quoted - asuquokelvin

That's okay, at least didn't close in loss

yeah. The losses were well mitigated.
I closed a bit late when I saw profit so I closed out at entry level.
Entry: 4176.94
Exit: 4175.62

A
@asuquokelvin - 2 days ago
Quoted - nsg_usd

yeah. The losses were well mitigated.
I closed a bit late when I saw profit so I closed out at entry level.
Entry: 4176.94
Exit: 4175.62

Imagine the loss you had, you should have closed out on the trade since, all the news and fundamentals you really tried holding up with the trade

N
@nsg_usd - 2 days ago
Quoted - asuquokelvin

Imagine the loss you had, you should have closed out on the trade since, all the news and fundamentals you really tried holding up with the trade

Yeah. I kept my Risk small. it was the multiple positions that wanted to escalate the risk, but since I realized I had enough room to accommodate the risk, I decided to hold it.
would have continued holding, but I just decided to start the week afresh.
The trades where in profit as at when price traded back above my entry with total profits on the position reaching about 0.6% of the Account, but I was prioritizing exit confirmation over the profits cause that's what I've been working on lately.
I don't just want to be jumping out of trades, I want to have good reasons to exit, just like I have good reasons to enter.

Gold is heavily bearish, trading from the 15min timeframe, want to see price reaction from the encircled level to go short from the 15min timeframe

Watching gold for the double top sweep, and a break below

The sells idea was accurate but price didn't sweep the double top as anticipated which would have given more confirmation to the setup, but instead reverse and continue downwards, the encircled area is the double top

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