XAUUSD Revision Saturday 21 December 2024

20 ธ.ค.

Hello Nation!

Let’s look how Gold did today. We started at around the 2594 area. It was looking like it may move down further till right before London Open,Buyers came in and took control. We did not even touch the low of yesterday.

By London Session, We had a H1 Resistance Break. Price consolidated for a while. Bouncing on the previous Resistance which becomes a support. The multiple rejections of the candles is a hint for me to be ready for a buy setup.

With a 30 pips Risk and a target of 100 pips. It went straight to break another H1 Resistance Level. Similarly, that Resistance level becomes a Support Level. M15 box clearly support this idea. But it was too close to a red folder news (PCE Price index).

But risk takers would have survive the news if they attempted with the usual 30pips Risk Setup. Price didn’t even break the m15 box. It went straight breaking another H1 Resistance.

Another RBS Moment on the H1. A very clean body break on the m15 gives us a loud possibility that price was continuing upwards. With another M15 box. I might consider this as a low risk entry as Price was with good momentum and a very clear show of direction.

We can spot 3 beautiful entries with the focus on H1 and M15 SNR. As i am writing this, I am still in a buy position which i entered earlier.

As i had explained, I am just sharing what i see. I believe in trading there are no 100% winning Strategy. Even myself, do suffer from losses and missed opportunities. I simply just want to pen it down so that i can read these notes and improve myself. Trading is an endless studying journey and the best teacher is our mistakes.

I also do hope this will benefit the person who red it with hope they can learn from my mistakes and experience. I am not a market mover or a forex educator. Just someone who buy and sell candles like you.

Conclusion for Gold today. It Reversed from Bearish to Bullish.

Thank you for Reading! And Good bye!