The last trades I took last week did not end so good. But this upcoming week, I am looking forward to having better trades. In this post, I will show you my last week's vs this week's trade assumptions.
Note: A zone is a premium price area in which no one wants to give up the price. Zones usually serve as strong areas of support and resistance. Therefore, the price is expected to move from one zone to another.
XAUUSD Price Assumption last week
XAUUSD Assumption for this week
My assumption last week was realized. The price did go up, and now, it is hitting another attempt on the previous resistance. The price, however, fell short in hitting the previous resistance.
Still, it was a successful retest and if the price breaks its current daily zone (green box), then we'll expect for an overall bullish trend continuation. Otherwise, there's a tendency that it will create a double top and a bearish movement if it fails to sustain its bullish momentum.
GBPAUD Price Assumption last week
GBPAUD Assumption for this week
As expected, the price went up after hitting a strong support zone. Still, the price failed to reach the previous resistance last week so it might continue to go down further and hit the bottom-most daily support zone.
PS: The reasons why I am having this online journal can be found here:
Officially Documenting My Trading Journal Online
