XAUUSD - Will The USD Stay Weak?

9 באוג׳ 2023

Analysis:
Bullish Confluences

• Price has formed a higher high
  
• We're retesting a previous area of support
  
• Upwards trendline touch
  
• 3k long position decrease for the USD
  

Neutral Confluences

• Symmetrical triangle pattern forming
  

Stay Safe- The JPI Team
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Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.

9 באוג׳ 2023

עסקה פעילה

Our entry criteria has been met and our order has been filled. We are long looking for the USD to continue to stay weak and drop further, in turn pushing gold higher.

15 באוג׳ 2023

עסקה סגורה: הגיע לסטופ

Trade Closed
(-1R) Lost
After Trade Comments:
This was a trade that never really managed to find support from the level we expected it to. We saw price try to hold this area but we couldn't find support and price slowly dwindled down, eventually tagging our stop loss after some better then expected news came out for the USD. This was a valid trade and was completely to plan but we just didn't see the move that we were expecting. Unfortunately this is what trading is like. Sometimes it can seem like death by 1000 cuts and other times trades can rocket straight to our take profit. It's all part of the game. No matter how annoying it may be or how badly you try to avoid losses, you won't succeed.  It's better to just accept your losses and reflect on the trade. If you stuck to your plan then you move on and look for the next setup. If not then you see what you did wrong, you correct it and then you move on. There isn't any point dwelling on a loss or getting upset about a losing trades because this happens to everyone. Like we've said so many times now, losing is a part of trading. If you stuck to your plan then there was nothing else you could of don or should of done. Stick to your plan and move on. With that being said let's wait for the next opportunity to present itself.

Stay Safe - The JPI Team