AUDCAD Price Action Analysis – 6th June 2017 | Free Forex Trading Signal

XAUUSD Price Action Analysis – 7th June 2017

Print Friendly, PDF & Email

Before you continue, we want to make sure you understand that this is a past trade idea found inside The Price Action Club which is a premium Price Action trade signal service. This post is 1 week delayed and this idea is no longer valid but the lesson is still valid. We post this to show you what is inside the Price Action Club. It would be awesome if you join us to learn and to trade our trade ideas. We hope to see you inside the Price Action Club soon. Click here to join us…

Join The Price Action Club Here…

Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

XM Broker


We use both of these brokers and proudly promote them!

XAUUSD Price Action Analysis – 7th June 2017

XAUUSD or GOLD has been bullish for the last 4 weeks. The price has kept going towards the North and made new higher highs. In fact, the price has been trapped on an uptrending channel on the Daily chart and still there is a lot of space for the price to go upwards. To go with it, H4 chart suggests that an opportunity might be round the corner to go long on Gold. Let us have a look at the H4-Gold chart…

XAUUSD Price Action Analysis – 7th June 2017

Thank you for your readership. We are truly grateful!

Hope that you like the strategies that we share.
If you like the strategies here, you will absolutely
love our latest strategy...

The MorningPips Trading System

The aim of Morningpips is to finish trading by the morning.
Simple as that... Check it out!

The chart clearly suggests that, the price has been uptrending. However, 1296.10 has been acting as a resistance here. 1288.30 is a level near to that resistance, which has a huge potential to be a level of support. If 1288.30 holds the price and produces an H4 reversal candle, then going long on Gold should get us some green pips with an excellent risk and reward ratio. Let us have a look at the summary of the trade…

  • Buy Stop Order: 1296.00
  • Stop Loss Level: 1288.00
  • Take Profit Target: 1316.00
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable
  • Validity: 72 hours (3 trading days)

The reversal candle we should aim for here is an Engulfing H4 candle. Engulfing candle is the best reversal candle, which attracts traders more over other reversal candles. Traders have less confusion before taking entry, thus price moves towards the desired direction with good speed. A Pinbar as a reversal candle is the second best. With a Pin bar, we have to wait for an H1 candle to make the breakout. This makes traders wait a bit longer than the Engulfing reversal candle.

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

We hope that you enjoy our Free Forex Trading Signal today: XAUUSD Price Action Analysis – 7th June 2017

Join The Price Action Club Here…


Facebook Comments

Other Analysis Today
Learn and SHARE the Knowledge!
Click Here to Leave a Comment Below 0 comments

Download Our Sniper Trader Trend Following System