You can see that gold took a very big down move today. I think this is a retrace and not a trend. So I think this is where you can buy gold on sale.
You can see that gold price now in gray rectangle and has broken out of the parallel channel. Also look at gray rectangle and you can tell that top is a support and my bottom is demand zone. Once below my demand zone then I think my theory of going up more is wrong.
This is the opposite of normal conservative and aggressive entry. You can see that conservative is more profit goal, but less chance of entry (and because of this less chance of any loss = conservative entry). Aggressive entry is lower target more chance of entry (and because of this more chance for loss = aggressive entry). I have not taken entry yet because I don’t know yet what kind of entry I want. I am going to sit on my entry for a couple of hours and see what I feel.
I change to black, white, grey and yellow chart because I am color blind and I easily mix up other colors. Lots of Irish people are for some reason. Sorry for the dull colors!
Let me know what you think and I love thumbs up and comments!
❤️ Ms Bunny.
See my other long gold strategy. It worked out good! (See link below)
You can see that gold price now in gray rectangle and has broken out of the parallel channel. Also look at gray rectangle and you can tell that top is a support and my bottom is demand zone. Once below my demand zone then I think my theory of going up more is wrong.
This is the opposite of normal conservative and aggressive entry. You can see that conservative is more profit goal, but less chance of entry (and because of this less chance of any loss = conservative entry). Aggressive entry is lower target more chance of entry (and because of this more chance for loss = aggressive entry). I have not taken entry yet because I don’t know yet what kind of entry I want. I am going to sit on my entry for a couple of hours and see what I feel.
I change to black, white, grey and yellow chart because I am color blind and I easily mix up other colors. Lots of Irish people are for some reason. Sorry for the dull colors!
Let me know what you think and I love thumbs up and comments!
❤️ Ms Bunny.
See my other long gold strategy. It worked out good! (See link below)
Trade active
I took a long entry at 1862. I figure this is closest price will be to bottom of gray rectangle. I have a small stop loss, because this set up will be proved wrong fast if gold is not going up.Trade active
I figured this to be a fast trade and so far it is turning into it. I sold half my position now. Move my stop to break even (entry) and will let the rest run. This is a free trade now, where ii will very least end up with some profit this is always a good feel! ❤️
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.