Master the IBWT pattern

Get it now (risk-free)

8 patterns that make up 98% of my PA income

Get it now (risk-free)

Learn the Scalping Secrets

Get it now (risk-free)

Read on Mobile Enter Reading Mode

XAUUSD (Gold) Trading Analysis 13 September, 2020

Posted on Sep 13th, 2020

by colibritrader

Dear traders,

Last week I shared with you my thoughts on GBPUSD.

There was a pin bar in a major supply zone.

The trend did change and we have seen a sharp reversal.

I have managed to participate in the downfall and profit from it.

Currently, I am not holding any short or long positions in this market.

XAUUSD (Gold) Trading Analysis 13 September, 2020

Today, I am looking at the gold market.

It looks like we might see some more selling before the trend resumes (if it resumes).

There was a bullish rejection candle followed by a small bearish engulfing candle.

I am looking at a potential sell-off down to the demand zone of 1870-1860.

I will be expecting the open and decide if there is a confirmation from the 4H chart will probably short it.

If not, I will just move on.

If price continues its fall down to the level of 1860, I will be looking for either a reversal or a continuation signal.

So, there is some place for manoeuvres and I believe an exciting trading week is ahead of us.

Happy trading,

Colibri Trader

P.S.

If you want to join me in my VIP daily trading channel, please register on Patreon and then follow me on Discord.

I am sharing my daily trading ideas, analysis and a lot more there.

(Visited 855 time, 1 visit today)

Leave a Reply Cancel reply

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Colibri Trader Ltd, its employees, directors or fellow members. Futures, FOREX, CFDs, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, FOREX and CFDs markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.