1 (edited by StevenG 2019-08-14 16:38:18)

Topic: Gold trading strategy

[12-16 August 2019] Gold trading strategy: Continue to increase to the resistance level Weekly 1525 - 1565

1. Analysis of W1 trend chart
Chart of W1 frame Gold: (see on comment)

Market analysis of Gold trading strategy
The uptrend of Gold on the W1 chart is very clear since breaking the peak of 137x.

The immediate target is the strong resistance zone of W1 frame 1525 - 1565. This is also the resistance of the rising price channel on the W1 frame.

With W1 this week, the market is very strong, the market force is still there and the next week's W1 candle will reach this resistance.

We can find a BUY point at the end of the week, before the price reaches the resistance zone W1.

2. Analysis of chart trends D1
Chart of D1 frame: (see on comment)


Market analysis of Gold trading strategy
The trend of D1 Gold is still an uptrend.

The current price is moving in a bullish channel and heading to the upper trendline of price channel D1.

So the price is simultaneously in the rising channel W1 and D1, and about to move to the upper trendline of price channel W1 and D1.

So Gold is very likely to increase the last one to 1525 - 1565 to reverse.

One thing to note about the possibility of reversal: When the price creates a peak on D1, MACD will create a new peak and it is likely that the new MACD will be lower than the old MACD => MACD divergence.

3. Analyzing points in H4 chart
Gold chart frame H4: (see on comment)

Market analysis of Gold trading strategy
The H4 trend is still an uptrend and there is no sign of any reversal.

You can watch BUY H4 when the price breaks the flag pattern (on the picture).

If you want to SELL, you should wait for a strong H4 beat (there will be), then wait for the Fibonacci Retracement adjustment to SELL.

4. Conclusion
If you do not have a Gold trading order:

Canh BUY at area 1490, SL at 1475, City area 1530 - 1540.
SELL soup when prices fall sharply and adjust on H4.
If you have a Gold SELL order:

Take a loss when the price breaks the flag pattern on H4 (over 1510).

If you are having a BUY gold order:

Hold orders and move SL to area 1475. TP 1530 - 1540 as above strategy.

All of my stratery are use TradingView, If you want to know how to use tradingView, I have a detailed article here:
http://bit.ly/2KuZ2ZW

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn

Re: Gold trading strategy

Gold D1 chart
https://i.postimg.cc/5jjM1Myx/v-ng-d1.png

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn

Re: Gold trading strategy

Gold W1 chart
https://i.postimg.cc/V5nzxRp4/v-ng-w1.png

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn

Re: Gold trading strategy

Gold H4 chart
https://i.postimg.cc/Js5FZT06/v-ng-h4.png

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn

Re: Gold trading strategy

Update chart

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn

6 (edited by StevenG 2019-08-19 09:22:10)

Re: Gold trading strategy

Update Gold stratery [19-23/08/2019]

All my stratery use Tradingview

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn

Re: Gold trading strategy

Update chart Gold H4 timeframe.
https://i.postimg.cc/pmp0pS2f/t8-19-23-XAUUSD-H4.png

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn

Re: Gold trading strategy

1. Analysis of W1 trend chart
Chart of W1 frame Gold:
https://sinvest.vn/wp-content/uploads/2019/08/V%C3%A0ng-26-30.08-w1.png
Forex market analysis: Gold trading strategy
The trend of Gold chart W1 is an uptrend.

The current price is in the strong resistance of the W1 frame (1525 - 1565). This is also the resistance of the price increase channel W1 as shown in the picture.

2. Analysis of chart trends D1
Chart of D1 frame:
https://sinvest.vn/wp-content/uploads/2019/08/V%C3%A0ng-26-30.08-d1.png
Forex market analysis: Gold trading strategy
Gold trend of D1 frame is still an uptrend.

The current price is at the resistance of D1 rising price channel.

Ie Price is currently at the strong resistance zone of W1 (1525 - 1565) and at the resistance of W1 and D1.

3. Analyzing points in H4 chart
Gold chart frame H4:
https://sinvest.vn/wp-content/uploads/2019/08/26-30-th%C3%A1ng-8-USDJPY-H4-1.png
Forex market analysis: Gold trading strategy
On H4, Gold is still in an uptrend.

As I analyzed at the end of last week, it is likely that Gold will have a last H4 increase before reversing.

And after the breakout of the cumulative zone (triangle pattern as shown in the picture), the price has risen to the resistance area of 1525 - 1565 very quickly.

The developments are in progress and the SELL pending strategy is still in effect.

4. Conclusion
If you do not have a Gold trading order:

Set SELL LIMIT in the area 1555-1565. Hard SL 1580, TP minimum 1495, long-term TP 1400.
Wait 1 H4 beat to reduce the breakout trendline in red on the picture, wait for the price to increase, observe the reversal signal => SELL. SL placed right on the new peak before the strong decline. City minimum 1450, long-term TP 1400.
If you have a Gold SELL order:

For the SELL command, the current standard SL must be above the peak of 1565 (resistance W1). Not to mention the W1 candle can sweep over the peak of 1565 before falling sharply.

Can put SL hard at 1580.

If you are having a BUY gold order:

If you have BUY gold according to the triangle pattern breakout strategy on H4 then this is an area that can take profit partially or totally.

Wait for SELL to follow the above strategy.

Good luck!

I am an architect and professional trader. I own a personal blog about sharing knowledge in Forex trading.
My blog Sinvest.vn