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Entered on Gold and EURAUD

Took two long trades on Gold and EURAUD, price action shows bullish rejection of a major weekly level for EURAUD, giving us an excellent potential gain and an awesome R:R ratio of over 3 times our risk. On Gold the overall momentum is bullish on the long run, there has just been a pause in the uptrend and price action suggests it could resume. Stop at 1386.58 giving as a potential gain of over 4 times our risk.

EURAUD H8 (07-14-2016 0635)XAUUSD H4 (07-14-2016 0637)

Taken out on Gold, thanks NFP

Taken out on Gold by a retrace lower. Loss of 1501 pips. That’s what NFP does to you, and so much for not following my own advice 🙂 See the volatility on H1 chart below.

Loss on Gold

Loss on Gold

 

NFP impact on Gold H1 chart

NFP impact on Gold (H1 chart)

Great winning Gold trade +6530 pips

My long trade on Gold exited at Take Profit which was set at three times my risk. Excellent bounce on support area, went straight to profit in 13 days. Profit is 6530 pips. A great winning gold trade.

XAUUSD

XAUUSD

Gold trade looking good

Still waiting to reach other side of the range.

Gold moving up

Gold moving up

Time for Price Action : long Gold

Going long Gold (XAUUSD) on a Price Action signal. We have a bullish engulfing candle on an important support level at 1210. Going long, with a stop placement below the previous low. Risk is kept limited at 1% of my account, and since I am aiming for 1283.67 we are close to a 1:3 ratio. As I have explained in previous posts, due to mostly ranging markets, I will shift my trading style to a more versatile and hybrid strategy also based on pure Price Action. I will be trading on a separate account whose performance I will entirely share just like my other one using Myfxbook verified performance.

Long gold

Long gold

Going long on gold

Long signal on XAUUSD tonight.

XAUUSD

XAUUSD