Gold with No Drama

Woke up to my short in profit this morning, I closed already since the price has hit a demand zone waiting for rejection candles there's probability of going lower a little bit to hunt liquidity since it's almost London session
Safe trades... Watching for now

Gold 4H Possible Scenario
Gold is currently trading around 4435 after a strong bearish move from the 4550-4500 supply zone. The chart shows a clear downtrend structure with price respecting a descending channel and failing to break above the retracement zone 4490-4550. Recent candles indicate weak bullish momentum and rejection from mid resistance suggesting sellers are still in control. If price fails to hold above the minor support near 4300 a continuation toward lower liquidity zones is likely.
Trade Plan – Sell Setup
Sell Zone: 4460-4500
Trigger: H1 bearish rejection or strong bearish candle close from this resistance zone
Targets: 4380, 4300, 4200
Invalidation: H1-H4 close above 4550
Trade Plan – Buy Setup
Buy Zone: 4240-4300 (major support + demand zone)
Trigger: H1 bullish rejection or strong bullish candle close from support
Targets: 4380, 4450, 4520
Invalidation: H1 close below 4200

TP hit.

Now waiting for another opportunity

What are your thoughts guys??

It should average 4479, however Ny hidden demand at 4421can play only to the tp.
And yes, late entry, i don't enter blinded... Limits against trains don't work well...
Safe trades.


EDIT: And 4455.890 is a 15m range close... So caution here too...

Little hedge

For some reason GU and EU have stayed strong and unbothered by the DXY. Just gold falling. I had a oending buy order at 4468 yesterday but price did not get there. It just did. It's interesting how your analysis may be correct, but time is used to make you doubt it.

And in the end, because people like to copy past i will explain why this trade in 1h have the average price at 4479... Yes is about a price said here, is not complicated...
When not respected is tested, but that's ok, is just random be the same more 500 points, less 500 points whatever...
When a price close inside a range the probability of beeing tested is a blafesm.
4H didn't close yet and can never close below 4478.505, but if it does they will try test the price or at least average it, but having into account 1h exceed his volatility, already average the 1h is beeing in good position before it happen...
Then we have tuesday Ny with a continuation pattern, wich mean again high probability of mirror the initial move, knowing that failing breakout monday can lead to test the low of this range at 4375.745.
Should we let 4h close 2h? Yes! Is a 4h range... But sometimes we miss the rejection, it just had confluences enough, in normal conditions i didn't do it.
In ranges is better follow 4h than micro despite price is fractal...
4455.890 can be handicap to my BE, but it's fine... I will wait 4h close... Sometimes price don't go straight, is how the market works, is always up to them...

My system says gold is still a powerful buy.

To me depends of this 4h
Tipical Ny will mirror minimum the move...
As 4h trend we are indeed respecting supply or demand, so is mixed now when we reject 4583 zone.
And i get the monday probabilities after breakout the low beeing protected, yes pending to bullish... But wick 4375.745, sorry that will be demand not beeing respected and confirmation bears still in controll as bulls did tuesday.

What system is it man?
Would you show me please?

Chuck Norris Gold Trading System

Doesn't look like the case imho. Check monthly, I personally consider this whole bullish movement as a retracement to a downward trend.
If Oil stays above 95, we are definitely bearish

Be hit, as i always said, when a level is taped twice, no need to fight, just a bullet...
We are now at London window, so no need to say i don't expect we go far untill Ny open...
Still need wait to be created the pivot.
Safe trades.

Can someone give me a trading bot here.

Yeah, if you want to go broke. All technical analysis right now are for the short term only, one tweet and you're cooked.

You go broke with one tweet? You need to stop trading!

You know what I mean, everything depends on oil. gold is just reacting right now.

Looks like it wants to test the waters at 4400? Curious to see what lurks down there.

Silver is presenting a more bearish signal.

if you want i programmed many kinds of trading bots (xau/xag/btc). we can discuss about it