XAUUSD Scenario for continuation of bull run

27 Nov 2020

This is a scenario for longs.

We're looking for support around 1796-1784, the price should ideally wick in that region and close above 1810-13 on the Daily.

Target 1: 1830
Target 2: 1840
Target 3: 1850

Optimal Entry - 1795
Stop Loss - 1775.00

I want to be out of longs if we head towards 1850. My short-term view is still for the price to go further down so i'm expecting a liquidity grab between 1850-75

Not trading advice, just my thoughts. ALWAYS Manage your risk through strict stop losses and money management.

27 Nov 2020

Catatan

Looks like we're approaching the SL on this trade idea. Breaking 1800 is crucial and ideally XAU needs a daily close above this level. Our lower level of 1747 is close so we will update our trading plan accordingly.

2 Des 2020

Catatan

I re-entered this trade once a double bottom was established.

Taking partial profits here at 1830 and moving stop to just above entry. At 1840 i'm going to exit the trade

3 Des 2020

Catatan

Have a small position left, i'm going to let it run to 1847. 95% of the trade was closed by 1840