As XAUUSD is bouncing off a strong support’ zone of 3245, this is after a bullish rejection candle forming. Looking at the lower time frame of 30 minutes, price looks to have broken a minor bearish structure and aims higher.
If the price holds above 3245, there is a high probability that the price can continue climbing towards the predefined targets. The targets are as follows;
TP1: 3250
TP2: 3255
TP3: 3260
SL: 3232 (below structure)
These targets provide a very good R:R ratio set up whilst maintaining clean structure to the upside unless we see a break at 3232.
The most critical step is to wait for breakout confirmation before closing entry. I am watching this move closely for a scaling long setup with ideal risk parameters.
If the price holds above 3245, there is a high probability that the price can continue climbing towards the predefined targets. The targets are as follows;
TP1: 3250
TP2: 3255
TP3: 3260
SL: 3232 (below structure)
These targets provide a very good R:R ratio set up whilst maintaining clean structure to the upside unless we see a break at 3232.
The most critical step is to wait for breakout confirmation before closing entry. I am watching this move closely for a scaling long setup with ideal risk parameters.
get those amazing setups for free: t.me/+9GiHb8pDHuY4ZDlk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
get those amazing setups for free: t.me/+9GiHb8pDHuY4ZDlk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.