Looking for more opportunities, and further risk - continues to TP3 TP3 (Ideal): 1778
The critical Support level at 1684 - if break potentially further to 1583 Support Critical Spot: 1684
Everything stops near here TP4: 1583
Final SL for all Short positions: 1922 Resistance Level
Comment: Gold XAUUSD Roger V Trading Idea analysed on 20 July 2021. The main resistance level will be in the range of 1905 to 1909 to test out its all-time consolidation high in 2021.
If the momentum reaches near the expected resistance of 1905 to 1909 and did not show any signal of weakening in the combination of H1 and H4. This trading idea will immediately be ceased and do not continue.
To clarify the wording above, the word "near" taking the price above 1905 to 1909, 1902, and 1912 can be considered as "near" depending on the market situation with the momentum at the time.
If the market was positive to follow the trading idea trend as analysed. Roger V will consider placing a short position as planned when the H1 and H4 signal occurs for a short position and having the final SL to SL once it goes above or near 1922 as mentioned. Hence, 1922 can be in the range between 1918- 1925. This will depend on the market situation at the time to determine if SL or possible of fake breakout.
The first target TP will be aiming at the price near the 1875 support level, followed by 1824 (TP2).
If the market were to perform further with its bearish trend. A price further down to 1778 can be considered.
At that time, gold will be in a one-sided direction for a few months already. A lot of trading groups will all be chasing a bearish trend on gold. However, please do keep in mind if it continues to fall at the time, 1684 will be a critical support level of a breakout for a further fall for gold.
If gold were to get supported at the support level of 1684 and did not break. The bearish trend may change.
If gold were not to get supported at the support level of 1684 and did breakout. A further fall of gold may go to a possibly near the price of 1583.
If the market were to actually happen to this critical scenario, at the time any price that goes below 1650, Roger V will stop any trades, and not have any positions anymore for gold until the next long-term analyse scheduled in the group.
Time frame: The analyse on gold for this may possibly continue until June 2022. However, this may depend on the situation and will update further in the group if any variations.
-------------------- (Note: The forecast above is an estimation of the resistance/ support level for the entry, TP, and SL. For more precise positions will depend on the shape formed with the candlestick at the time.) -------------------- Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at your own risk.
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