XAUUSD has been having a strong Buy trend on the H4 chart. Today’s price action has been bullish so far. The current H4 candle seems very strong to make a breakout at a very significant level of Resistance. If that happens and we get an H1 Engulfing Bullish candle afterwards, then buying the pair would get us some green pips later today. Let us have a look at the H1 XAUUSD chart….
XAUUSD Price Action Analysis – 25th Jan 2018
Have a look at the price action on this chart. The price made an H1 breakout at 1361.60. We are waiting for the current H4 candle to be finished, and then it would be an H4 breakout. After that, if the price comes back at the breakout level and produces an H1 Engulfing Bullish Candle, then the XAUUSD price should reach the level of 1375.90 without having that many pauses. Let us have a look at the summary of the trade…
- Buy Limit Order: 1361.60
- Stop loss: 1355.45
- Take Profit: 1375.90
- Validity: 72 hours
- Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable
XAUUSD is a metal, which is very consistent in the financial market. Usually, news events do not make a huge impact on XAUUSD unless it is an extremely high impact news event. However, the XAUUSD market can get very volatile from time to time for huge political factor. These are not always scheduled. In one way, it is good, but in another way, it could be a bummer. We know what to do to be safe from such factors. We just have to have a strong money management.
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