BlockchainAndPips

In my last gold post, I had updated a few psychological levels; today's trade is based on the simple breakout level of those psychological levels. i have also marked how perfectly these levels are working. Thank you for following me and showing support, hope you guys are learning from my post.

in my last post, i told that gold is very bullish due to technical as well as fundamental reasons. Today I took trade 1st, one is very simple on support, added a buy position. 2nd one, i saw price break trendline and also last HL, but it was just liquidity grab/SL hunt move on US open session. Price tried to go down twice but failed, and after 2nd failed attempt, I decided to enter into a long trade, capturing 1:3/ About the level marking - after ATH, there is no significant level to mark, so I have marked out some psychological levels Every 10$ from last all time is 1H resistance Every 20$ from the last all-time high is 4H resistance Every 50$ from the last all-time is the daily resistance. As in this post, you can see how good a level turned out to be on the 1st and 2nd attempts before giving a huge move.

The chart might seem to be very confusing, but try an focus on 2 things. 1. Redbox, which is indicating a sideways market 2. Price has perfectly retested on fib levels, which I have marked using an arrow. On Friday's closing, the price has shown a huge move, and I am expecting a bullish move to continue because of price action and fundamental news. Later, the U.S. dollar is weakening, and although the Fed rate cut move trapped all the buyers and sellers, I am still expecting a bullish move on gold

From weakly to 4H, i am seeing an upward move, and the price has taken support at the daily trendline. All the blue levels are 4h levels. if you check price on weekly price has taken the liquidity from last HL. Only Daily also price is moving slowly and steadily but upwards. On 4H price is a bit in sideways but above the local support level. My expectation - price can take liquidity from support below and and expecting an upside move to create a new high. takes all the liquidity and may be drop sharply or continue its upwads as rate cut expects more and more.

If the price wants to move upwards, something like I showed on the chart and levels should be formed by the price. Till the levels are tested, you try to take counter-trend trade according to your strategy.

Gold is near its ATH, almost about 4months back, just observe the candle on the monthly levels, this week, 1st September to 5th September, there is only news and daily. While gold is at an all-time high, i am noticing the trend is not that strong, small HH and quick pullbacks, which usually indicate the selling might come. Be very cautious of trading this week because of news and ATH. might want to protect your capital rather than FOMO entry

overall trend i sbullish, if you want to trade safe go for long, anything above 15min TF is ok. but todays trend is pullback trend, so if you look for scalpe then go for short on 5min or 1min. all the levels are mentioned on chart. NOTE : this is not a finance advice

observe this trade on 1min and 15min also. All the levels are on 15min and the blue level is on 4H. i observed that 15 minutes has volume, but is not able to break the range. observed on 1 minute how the market is reacting on 1 minute on levels then decided to short on 1min. here my strategy was the same as i use on 15min.

reading pure price action and the psychology behind the price move. NOTE : this is not a finance advice

yesterday gold was dumped very quickly late at night, so today we might not get any opportunity in the market and there are no clear levels at this time. but gold is following the trendline and we might see new fresh buyers getting trapped near the trendline. NOTE : not a finance advice