Here is an analysis on XAU/USD gold
RECAP: (Previous Analysis)
In our previous analysis Gold was trading at $1745
We expected the pair to test $1765 before falling back to $1730-$1720
However the pair was limited to $1755 before falling to $1719
triggering our Buy Stop @ $1755 which was closed at a loss @ $1745
And also our Sell Stop @ $1720 which was also closed at a loss @ $1730
In total we lost 200 pips on the pair over 10 positions from our Buy & Sell Stop orders.
But recovered our loss by scalping as the pair fell to $1719 & rose back to $1740
WHAT TO EXPECT:
Currently @ $1738
We are still bullish on the pair & we expect gold to test resistance @ $1765
If the pair manages to break above $1750 & $1755 the pair will attempt to test $1765 & $1770
On the other hand if the pair fails to break above $1750 we expect it to trade back to lows of $1720 & $1710
OUR POSITIONS:
Buy Stop @: $1750
Buy Stop TP @: $1760
Sell Stop @: $1720
Sell Stop TP @: $1710
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP: (Previous Analysis)
In our previous analysis Gold was trading at $1745
We expected the pair to test $1765 before falling back to $1730-$1720
However the pair was limited to $1755 before falling to $1719
triggering our Buy Stop @ $1755 which was closed at a loss @ $1745
And also our Sell Stop @ $1720 which was also closed at a loss @ $1730
In total we lost 200 pips on the pair over 10 positions from our Buy & Sell Stop orders.
But recovered our loss by scalping as the pair fell to $1719 & rose back to $1740
WHAT TO EXPECT:
Currently @ $1738
We are still bullish on the pair & we expect gold to test resistance @ $1765
If the pair manages to break above $1750 & $1755 the pair will attempt to test $1765 & $1770
On the other hand if the pair fails to break above $1750 we expect it to trade back to lows of $1720 & $1710
OUR POSITIONS:
Buy Stop @: $1750
Buy Stop TP @: $1760
Sell Stop @: $1720
Sell Stop TP @: $1710
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
