XAUUSD Technical Analysis and Fundamental Analysis
The market will head down lower
Confluences = 1. Fibonacci Retracement at level 100%
2. Market reached a resistance area
3. The market has already 2 peaks so that means we can already draw a downward trendline
4. The market has already started to creare lower highs and lower lows and then the market entered in a consolidation period
5. If the market wanted to go higher it wont stop at that level and come back down as it did
Entry Rules (For new people in forex trading) = 1. We have to wait for the market to break the box downward or upward
2. We have to wait for another lower high to be made then we enter
3. SL right above the trade (like 10 to 25 pips SL)
4. TP where the market has stopped in the past
TP = Take Profit (that means where your trade will be stopped automatically with profit)
SL = Stop Loss (that means where your trade will be stopped automatically with loss that means that you lost money)
ADVICE! = Use a high risk reward ratio dont use something that its lower than 1.50 risk reward ratio
Always have a small SL because if you have it big you may end up blowing your forex account!
THATS ALL! Hope you enjoyed everything and good luck traders!
XAUUSD
Confluences = 1. Fibonacci Retracement at level 100%
2. Market reached a resistance area
3. The market has already 2 peaks so that means we can already draw a downward trendline
4. The market has already started to creare lower highs and lower lows and then the market entered in a consolidation period
5. If the market wanted to go higher it wont stop at that level and come back down as it did
Entry Rules (For new people in forex trading) = 1. We have to wait for the market to break the box downward or upward
2. We have to wait for another lower high to be made then we enter
3. SL right above the trade (like 10 to 25 pips SL)
4. TP where the market has stopped in the past
TP = Take Profit (that means where your trade will be stopped automatically with profit)
SL = Stop Loss (that means where your trade will be stopped automatically with loss that means that you lost money)
ADVICE! = Use a high risk reward ratio dont use something that its lower than 1.50 risk reward ratio
Always have a small SL because if you have it big you may end up blowing your forex account!
THATS ALL! Hope you enjoyed everything and good luck traders!
XAUUSD
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