XAU USD long position for NY open

12 Mar 2021

Lots of liquidity resting up top on all of those highs and trendlines, market has reached and completed by weekly timeframe retracement, now would be the best time to buy gold based on seasonality and higher timeframe market structure, on the lower timeframe 5 min we have a bullish divergence with the rsi and on the 1 minute we have a break of short term structure to the upside, market structure never lies, we also respected the 1700 level.

12 pip SL

1:19.69 RR

TP 1 at 1708

TP2 at 1717

Final TP at 1725

My SL is a little aggressive at 1699.5 but you can go in and enter your own SL if you would like Happy trading !


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Always remember to move your trade to break even when in profits, its better to be a break even trader than a losing trader.

Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions

12 Mar 2021

Not

IF our entry criteria isnt met on open we could see gold sell off from 1708 area!!!!

12 Mar 2021

Not

Our entry criteria was met, currently running at 1:5 RR stops are at break even and i took a partial early