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  • #50,501
  • Nov 5, 2024 3:55am Nov 5, 2024 3:55am
Quoting giveachance
{quote} you had a sell earlier.. stopped out at breakeven? buying is also risky here. its doing its own thing for now
I booked profit when I saw the liquidity sweep. It might be down in the long run but it should hit at least 2761. That's why I am long now. I will trade it without looking at news. My stop is at 2720.
  • #50,502
  • Nov 5, 2024 3:57am Nov 5, 2024 3:57am
Quoting Mitiblotch
{quote} I booked profit when I saw the liquidity sweep. It might be down in the long run but it should hit at least 2761. That's why I am long now. I will trade it without looking at news. My stop is at 2720.
and why would it hit 2761?? reasoning?
  • #50,503
  • Nov 5, 2024 4:00am Nov 5, 2024 4:00am
Quoting giveachance
{quote} and why would it hit 2761?? reasoning?
Next liquidity target. The pool sitting at the base with 4 touches was swept with the spike down this morning. So the next one to be mitigated should be the ones above. On a normal day this should happen, but this election time isn't normal, but I have decided to trade my pattern and keep a target and a stop.
  • #50,504
  • Nov 5, 2024 4:02am Nov 5, 2024 4:02am
Quoting Mitiblotch
{quote} Next liquidity target. The pool sitting at the base with 4 touches was swept with the spike down this morning. So the next one to be mitigated should be the ones above. On a normal day this should happen, but this election time isn't normal, but I have decided to trade my pattern and keep a target and a stop.
you can get a quick flush to 2708 as well beware of that
  • #50,505
  • Nov 5, 2024 4:19am Nov 5, 2024 4:19am
Quoting Whale
seller must wait, price want up for better price, 2749?
higher.. imo.
price right now 2736 looking for buy soon
To 2760.

1h indicates a liquidity sweep above 2760
  • #50,506
  • Nov 5, 2024 4:20am Nov 5, 2024 4:20am
Quoting Whale
{quote} higher.. imo. price right now 2736 looking for buy soon To 2760. 1h indicates a liquidity sweep above 2760
long 2736.4
  • #50,507
  • Nov 5, 2024 4:21am Nov 5, 2024 4:21am
Quoting giveachance
{quote} you can get a quick flush to 2708 as well beware of that
Well, I don't know what will be that's why there is a stop. If I considered all the possible happenings I'd not be able to trade hence the decision to trust my trading pattern and go with the flow. This current trade is what I consider a good setup. But good setups can still fail. Let's see what happens.
  • #50,508
  • Edited 4:49am Nov 5, 2024 4:35am | Edited 4:49am
XAUUSD M30
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XAUUSD H4
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Always keep an eye on your H4
  • #50,509
  • Nov 5, 2024 5:04am Nov 5, 2024 5:04am
Quoting sadsoul
{quote} @Asylum What strategy do u use with book map ? Mind sharing it ? and how is your overall result so far ?
Look for high volume at technical levels and you can't go wrong. Need to be good a identifying levels. then get your stop be quick
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  • #50,510
  • Nov 5, 2024 5:05am Nov 5, 2024 5:05am
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  • #50,511
  • Nov 5, 2024 5:08am Nov 5, 2024 5:08am
Nor so easy, above 2751 it would change geo graphic conditions without any tangible bottom,

Quoting Whale
{quote} higher.. imo. price right now 2736 looking for buy soon To 2760. 1h indicates a liquidity sweep above 2760
Cyclist
  • #50,512
  • Nov 5, 2024 5:09am Nov 5, 2024 5:09am
2748 will be next stop.

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(15 min)
  • #50,513
  • Nov 5, 2024 5:31am Nov 5, 2024 5:31am
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  • #50,514
  • Nov 5, 2024 6:13am Nov 5, 2024 6:13am
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  • #50,515
  • Nov 5, 2024 6:18am Nov 5, 2024 6:18am
break and hold firm above 2762 done shorting could be same run into new highs, until then could still go either way. Was expecting it to take 2762 yesterday n crash now not so sure it would correct after touching near might rally through
short term downtrend range still intact , longer term bull range still intact
  • #50,516
  • Nov 5, 2024 6:22am Nov 5, 2024 6:22am
I may be wrong, but not satisfied with this sweep,just inverted the chart
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  • #50,517
  • Nov 5, 2024 6:25am Nov 5, 2024 6:25am
My thoughts is just too soon to buy for now. Take care
  • #50,518
  • Nov 5, 2024 6:27am Nov 5, 2024 6:27am
Technical Overview
Gold (XAU/USD) has pulled back from its recent high near the top of an ascending channel, hinting at possible bullish exhaustion. Mixed signals from daily chart oscillators suggest caution, but any drop should initially find support around $2,720-2,715, with further support near $2,690 if it falls more. On the upside, resistance sits at $2,748-2,750, then $2,790, with a stronger barrier around $2,820. If XAU/USD breaks above $2,820, it could spark a stronger uptrend.
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  • #50,519
  • Nov 5, 2024 6:29am Nov 5, 2024 6:29am
Fundamental Overview
Gold is steady around $2,735, supported by safe-haven demand due to US election tension and Middle East instability. Lower yields, a weak USD, and potential Fed rate cuts amid signs of a softening US labor market add support to XAU. However, uncertainty about the US election and FOMC meeting is keeping traders cautious. We can also looking at the US ISM Services PMI for short-term moves.
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  • #50,520
  • Nov 5, 2024 6:34am Nov 5, 2024 6:34am
With XAU/USD stuck in a tight range between $2741 and $2748, it seems like we’re in a period of consolidation. For now, price action suggests we might continue to see range-bound movement unless a strong breakout confirms in either direction.
Keep an eye on these levels if you’re trading within this range. A clear breakout could provide us with a better directional signal. Until then, let’s trade cautiously and watch for signs of any momentum shift!
| Trading Edge | RR | Psychology | Persistence | Fortune | Prosperity |
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