What a week 🔥

Another banger!

VIP members got every entry, every update, every move.

#XAUUSD - Live stream chart for reference

https://www.tradingview.com/x/jFHOCNyo/

Bessent: Hormuz deal could come today or tomorrow

United States Treasury Secretary Scott Bessent said on Tuesday that Washington and Tehran could reach an agreement on reopening the Strait of Hormuz as soon as today or tomorrow.
"We've seen [US] President [Donald] Trump last week threaten what would have been the largest military campaign since World War 2 against the Iranians, and now because of that we are in talks with the Iranians. I think there's a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict," Bessent told CNBC in an interview.
The US secretary was also asked if the deal would include Tehran charging a toll, to which he replied that it would be "freedom of movement," even though "things are still a little dicey there over the past few days."

Here are 10 great technical trading rules that will help you build a systematic approach to trading: 📈📊

1. Start with the weekly price chart to establish the long-term trend, then work down through the daily and hourly charts to trade in that trend's direction. The odds are better if you are trading in the direction of the long-term trend. 🗓️📉

2. In Bull Markets, the best strategy is to buy the dips. In Bear Markets, the best strategy is to sell short into each rally. 🐂🐻

Always go with the path of least resistance. 🛣️

3. Support and resistance levels can hold for long periods; the first few breakout attempts usually fail. 🚧

4. The more times a support or resistance level is tested, the greater the odds that it will be broken. Old resistance can become new support, and old support can become new resistance. 🔄

5. Trend lines are the easiest way to measure trends by connecting higher highs or lower lows, and they must always go from left to right. 📏📈

6. Chart patterns are visible representations of the price ranges that buyers and sellers are creating. Chart Patterns are connected trend lines that signal a possible breakout buy point if one of the lines is broken. 🧩

7. Moving averages quantify trends and generate signals for entry, exit, and trailing stop orders. 🎯

8. Moving averages are great tools for traders, but they are best used alongside an overbought/oversold oscillator like the RSI. 📉📈

This maximizes exit profitability on extensions from a moving average. 💰

9. 52-week highs are bullish, and 52-week lows are bearish. All-time highs are more bullish, and all-time lows are more bearish. Bull Markets have no long-term resistance, and Bear Markets have no long-term support. 🚀📉

10. Above the 200-day is where bulls create uptrends. Bad things happen below the 200-day: downtrends, distribution, bear markets, crashes, and bankruptcies. 📉💸

#XAUUSD - Update

https://www.tradingview.com/x/K58BFg7P/

The four stages of becoming a good trader:

Stage 1. "I can predict the market." 😏

Stage 2. "I can't predict the market."😒

Stage 3. "I don't need to predict the market." 🤓

Stage 4. "I need to manage whatever the market does." 🧐

Stage four changes everything.

#XAUUSD - Market outlook

https://www.tradingview.com/x/NbNu7Thd/

#XAUUSD - Moving as we expected

https://www.tradingview.com/x/aeuRYmNO/

Perfection 🚀

JUST IN: 🇮🇷 Iran officially announces agreement with Oman and says it will reopen the Strait of Hormuz "if US fulfills its promises in the MoU."