Hey, Traders.
This week we will expect Bearish move in XAU/USD ( Gold). Today is Monday and because of that, we will expect to see clear of liquidity at the market before the real move to take place. You can see at a weekly chart we have two important Support zone which will be a target for a long-term trade.
- We will expect a Bullish move from 1427.65
- We will expect a Bullish move from 1287.32
On the Daily chart, we have two resistance zone in which we will look to take short orders with a stop above 1550.00 . Our idea will be the market first to make a fake move and to take out liquidity pool above 1510.00 and after Gold hit our D1 Resistance zone we will look to take a short order with target our D1 Support zone at 1445.00. We have several liquidity pools below 1480.00 and we will be careful with sell orders if the market takes the liquidity below them first.
- Expect Bearish move from D1 Resistance Zone 1 – 1521.90
- Expect Bearish move from D1 Resistance Zone 2 – 1546.80
If you want to learn more about the markets and to improve your trading in just 30 days check our courses at https://angels-fx.com/courses
Risk Associated with Forex Trading Off-exchange foreign currency trading on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with off-exchange foreign currency trading and seek advice from an independent financial advisor if you have any doubts.