ForexSignalPort Free XAUUSD Crab Pattern : SHORT/LONG Technical Trade

XAUUSD Crab Pattern : SHORT/LONG Trade Setup Recommendation : 04 March 2019 (+149 Pips)

XAUUSD had reached a high of 1345 in February and has been falling down to its weekly support levels. The levels between 1302 and 1275 provide good trading opportunity with several technical levels and a Crab Pattern reversal D point in agreement at 1275 levels - this could be a good area to go long. We will also look for short opportunities between 1298 to 1304. GOLD will remain bearish below 1315 (current 100 MA) and we will look for short trades before the PZR level of 1275 is reached.

Phibase team has setup an automated script to short trades in the Resistance/Retest zone and Long trade from the PRZ zone which offers good risk reward of 1:2.5 (100 pips : 250 pips). 100 Day MA at 1265 provides final support to place stoploss below for the long at PZR. We will also look to short into retest of 1300 levels with very tight stoploss above H1 20 MA/recent highs.

  • Symbol : XAUUSD SHORT
  • Analysis time frame H1
  • Original Recommendation Date : 04 March 2019
  • Technical Levels : Resistance/Retest
  • Potential Reversal Zone : 1298 to 1304
  • Target Price : 1288/1276
  • Stoploss : 100 pips or above 1315 which ever is lower
  • Hidden Stoploss : below D1 100 MA/Further US Dollar strengthening news
  • Risk:Reward = 1:2 (-50 pips: +100 pips)
  • Symbol : XAUUSD LONG
  • Analysis time frame D1/H1
  • Original Recommendation Date : 04 March 2019
  • Technical Levels : Crab Harmonic Pattern, Support levels
  • Potential Reversal Zone : 1275
  • Target Price : 1300
  • Stoploss : 100 pips or below 1265 which ever is lower
  • Hidden Stoploss : below D1 100 MA/Further US Dollar strengthening news
  • Risk:Reward = 1:2.5 (-75 pips: +250 pips)

13th March : XAUUSD SHORT Trade Executed at 1305.20. Closed at +22 pips

19th March : XAUUSD SHORT Trade Executed at 1310.20. Closed at +32 pips

4th April : XAUUSD LONG Trade Executed at 1284. Closed at +95 pips

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