Hello everyone!

This past Friday we had an interesting development on Gold. After weeks on a range between 1312 and 1339, price finally moved beyond that resistance level (which is MM3) and closed the week at 1347.26.

I’m USD bearish so my plan is to look for buying opportunities on XAUUSD and that’s what we will do here:

XAUUSD - Daily

We saw price make (sort of) a Triple Bottom on MM2, so we know that monthly pivot traders will be looking to take this thing further into MM4, which is the predicted monthly target according to basic pivot point theory. This Friday, as I stated before, price broke above the resistance level of MM3 and ended, almost a month, of range-bound trading. This gave us additional arguments to support the idea of seeing price climb further into the MM4 area.

XAUUSD - H4

I traced 2 possible entries for next week. The first scenario is WPP (1334.70) to WR2 (1377.80) and second scenario is WM2 (1327.01) to WM4 (1370.06).

DXY - Daily

The Dollar index failed (again) to break the resistance level of 90.50 and came down hard to previous support. This helps our case of seeing a weaker dollar and subsequently a stronger XAUUSD.

4 thoughts on “XAUUSD – Trade Plan”

  1. Jason Pearl says:

    Where did you get that PP indicator?

    1. João André says:

      Hello Jason.

      This indicator was given to me when I first started trading, a year ago.

      I don’t know the exact source, but if you give me your email, I can send you it.

  2. Nqosa Lehloenya says:

    hey Joao, came over to check out this trade plan because of a comment you posted over on youtube. lol. Anyway, nice trade plan bro!!!

    1. João André says:

      Thank you Nqosa.

      Didn’t want to appear “needy” but I think it’s important to give feedback. 🙂

      Thanks again!

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