Alan Solarsh reviews closed XAUUSD trades and plans a buy order near 4400 after price retraced over 50% of the prior move. He's breaking his own two-candle rule to capture liquidity, betting that bear momentum has faded.
Everybody, so I have closed my trades in a profit and I decided to wait because we are between two order blocks. We've got a supply zone over there and we've got our demand zone over here. This whole area is supply, and we're back in that supply zone. Also, the candle has retraced, uh, this move over here. What's happened this morning is, is that we've retraced more than 50% of the way up. I understand that we're in a, in a supply zone, but I feel that the bears have lost momentum here totally, and I feel that for me, I want to get ready to place a Blue Banner trade. Hmm. That's what my intention is. So I'm thinking of placing a buy order just above this fractal, about there. Um, maybe 4400 at the psychological level. I'll see how I feel later today, but that's my intention and that's what I'm planning to do. So I have broken my rules. Two candles are still below the ATMA. We're short, but the reason that I've done it is because that the retracement is more than 50% of this, this red candle over here. So I'll just play it out and see what's happening. Now, the reason I've broken the rules is because I want to get some liquidity back. I don't want to be hedged at the bottom here during the ceasefire. Well, You know, it's dangerous. I understand that. So if you're going to do that, you need to understand the risks and you need to follow your own judgment. But I'm just explaining to you what I'm doing. Cool. I'll see you on the groups. Cheers. Bye.
Double bottom forming - Gold ready for $4000 #trading #technicalanalysis #xauusd
