XAUUSD Bullish Engulfing 4-Hour Chart

Resistance: 1603.45 minor/1613.65 minor Support: 1596.67 moderate/1586.47 strong/1579.69 moderate Market is generally bullish with Bullish Engulfing suggesting a further push up. Given that the pattern is a medium reliability setup consider going long the immediate objective at 1603.45 possibly a run to 1613.65. Stop losses ideally should be under 1596.67 though a tighter stop under the pattern low is also viable. It is best to wait for a confirmation.

Original post:
XAUUSD Bullish Engulfing 4-Hour Chart

Cookies, Private Policy & Disclaimer

Click Here to read a full explanation on our policies for Cookies

U.S. Government Required Disclaimer – Commodity Futures Trading Commission. *Futures, options, 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 and options 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 or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Privacy Policy

We respect your privacy and will never share your email address with any outside party. We will send you webinar and/or other opportunities we feel you may be interest in, but in the event that you wish to opt out, please let us know. If you receive any unwanted mails from our companies, then please also let us know, we will remove you from our database immediately. Any SPAM or unwanted mail generators who have utilised our company information will be prosecuted to the full – It is not acceptable practice. We may use third-party advertising companies to provide ads when you visit our website. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. We may use affiliates in the course of running our web-sites, we may get paid an affiliate commission if you purchase goods from them, via these adverts.

TRADE ADVANTAGE - Futures, Stocks & Forex Data, News & Reviews - Live ES Trade Room

All contents of the Service are provided for information and educational purposes only. You agree that the Service should not be interpreted as investment advice, as an endorsement of any security, or as an offer to buy or sell any financial instrument. Trade-Advantage is not a registered broker dealer, or financial advisor. Trade-Advantage does not provide personal investment advice. You also understand and agree that, from time to time, any or all of the information providers or their affiliates may hold positions in financial instruments mentioned and that they may trade for their own account based on this information. Members and visitors to Trade-Advantage should assume at all times that any and every stock, ETF, or other investments that is discussed, listed, and or referred to or which appear at the website in any form may also be currently owned by Trade-Advantage owners, employees or affiliates.