Since July, a Trading Box appeared: 1306$ - 1375$. Within that Box, we can see the next shortterm Box which reaches from 1330$ to 1356$
Interesting are the edges from each Box.
Trading ideas Blue Box: 1. The Anticyclical Risk Lover would BUY the bottom of this Box with a SL, near below this edge @ 1.300$. Box TP1 would be the upper edge On the other side, the Risk Lover could sell the upper edge @ 1.375$ (SL near above that Level) TP=Box`s Bottom 2.The cyclical patient Trader would prefer waiting till we break through one of the Box`s edges (Stoppbuy or Stoppsell with a closely SL near the edge)
Trading Ideas Mangenta Box:
1. The Anticyclical Risk Lover would BUY the bottom of this Box with a SL, near below this edge @ 1.330$. TP1 would be the upper Boxedge mangenta, and TP2= upper BoxEdge Blue. On the other side, the Risk Lover could sell the upper edge @ 1.356$ (SL near above that Level) TP1=Mangenta Box`s Bottom/ TP2 Blue Box`s Bottom 2.The cyclical patient Trader would prefer waiting till we break through one of the Box`s edges (Stoppbuy or Stoppsell with a closely SL near the edge) TPs are the edges of the blue Box
COMMENTS ARE WELCOME -AGREE OR DISAGREE
Main View: XAU reached important Action Point!
We can see a midterm uptrend since 30.05.2016. The upmove temporarily stopped with a Double Top @ 1.375$ - a consolidation started. Today we are trading near the supportlevel @ 1.310$. Here is based the midterm uptrend-line, the min . correction Level - the fibo 38,2 retracement, the neckline of the possible H&S and the EMA 200 in this timeframe. All together are apivot support-Cluster. 1. Trading below that Level will break the midterm-uptrend - a shortsignal appears. The TPs of the H&S are 1.274$/ 1.248$. 2. Will the trend be bought, that would be a bullish Signal. Here you could exspect the next buying-wave up to 1345$/137$5. 3. Trading above the former Top @ 1.375$ will cause a midterm-longsignal --> TP 1.430$ This is just my persoonal view -please trade your own view.
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XAU left the mangenta box - RSI signs an oversold situation in this TF
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And kissed thebottom of the edge of the downtrend
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7$
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scalpers should take (also part of the popsition) profit or trail the stop!!
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bearish wedge seems to be traiggered - but isn`t it a buying canlde? (False Breakout?)
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Reached next Action Point
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If xau will break through this Action Point, than it is time to adjust the sl again:
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Yihaaaaaaaaaaaaaaaaaaa It`s again time to adjust your SL!
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Sl Adjustment
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The next Wedge?
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XAU reentered mangenta Trading Box!
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reached again the action point... now it is getting interesting..restart !
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Nice Straddle
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XAU decided to take the way down....shortposition filled and actually 11$ in win- not so bad
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SL adjustment
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illustrated fictive sl triggered ....
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we are now trading near an action point @ 1315
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we did break through this action point....further short mode...
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dipped deep down to the in my main view illustrated support level
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tp fully reached. The mangenta box -bo reached till the blue box bottom edge. Now we have reached an action Point again
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overview:
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reached blue box!!!!
İşlem kapandı: hedefe ulaştı
We played the in my main view illustrated variante no. 2 mangenta box: (Trading Ideas Mangenta Box: 1. [...] 2.The cyclical patient Trader would prefer waiting till we break through one of the Box`s edges (Stoppbuy or Stoppsell with a closely SL near the edge) TPs are the edges of the blue Box - TP reached!!!
Now i see the chance to play variante 1 of the Blue Box: 1. The Anticyclical Risk Lover would BUY the bottom of this Box with a SL, near below this edge @ 1.300$. Box TP1 would be the upper edge On the other side, the Risk Lover could sell the upper edge @ 1.375$ (SL near above that Level) TP=Box`s Bottom
If we soon have to play nr. 2?
2.The cyclical patient Trader would prefer waiting till we break through one of the Box`s edges (Stoppbuy or Stoppsell with a closely SL near the edge)
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