XAUUSD USING SLK STRATEGY

In situations where the daily and weekly don’t align, the best thing to do is to stay out of the market until there’s proper alignment.

Also, you can trade based on the current daily structure but it shouldn’t be a swing trade. Personally, I will be looking for sells on this pair today until daily aligns bullish with weekly.

For me I dont think the red bars are just retracements, US Dollar Index is high. The dollar continues to go from strength to strength. So, I think the Gold market is going to fall. Staying out of the market will mean missing out of the action.

I didn’t state you should stay out. I stated clearly that i will be looking for sells until proven otherwise. Based on experience, the US dollar index doesn’t influence Gold all the time and that’s why I rely mostly on structure.

I set a short limit on Gold. Hope price comes to tag me in.

The sell liit has blocked the chart, we cant see anything.

I want to believe this is okay right?

Yes

It’s a 30min timeframe.

Looking at the image posted, you will see a blue arrow pointing to 30, that’s the timeframe. You will always see it on any trading view chart I post or others post.

I'm jumping in and taking a sell, cant wait till the water runs dry 😂

Really? That’s not a good style of trading . It’s called FOMO😎

My gold limit just got triggered.

I even lost the trade because gold price has started going up, I wish I had entered earlier. Gold price had been falling ince morning so if i seold earlier I could have made something. Even for you, if you sold earlier you would have made something

Well, my sell limit just got triggered. Gold is still bearish for me until daily timeframe proves otherwise.

Headies you keep switching timeframe, you started the analysis with 30 minutes now you have switched to 2 hours for execution.

Ohhhh, my apologies pls.

It was actually executed on 30min. It’s just the timeframe image I sent. The analysis was executed on 30min. Pls don’t get confused.

This is the trade.

This trade is still in profit, can’t wait for it to hit take profit.

I will be closing my trade here. It ended in profit.

I’m still bullish on gold. Here on the daily timeframe, we had yesterday daily candle rejected and close above an open close key level. This kind of formation signals a buy if the 4hr timeframe gives a breakout to the upside.

Here on the 4hr timeframe we had a breakout to the upside as shown in the images attached. This goes to show that daily and 4hr timeframe are in alignment. I will head down to Lower timeframe for a possible buy entry.