GOLD DAILY 09/11/2018
Updated
Gold is still consolidating to form a triangle pattern and moving in the daily pivot area.
Daily Pivot:
R4 1216.93
R3 1209.63
R2 1202.33
R1 1198.76
Pivot 1195.03
S1 1191.46
S2 1187.73
S3 1180.43
S4 1173.13
First option:
-Open long positions when the price breaks up the triangle
-TP at the first daily resistance
-SL can be placed in the first daily support or previous swing low
-Wait for confirmation to open a position
Second option:
-Open short positions if the price breaks down the triangle
-TP at the second daily support
-SL on the previous pivot or swing high
-Wait for confirmation to open a position
Daily Pivot:
R4 1216.93
R3 1209.63
R2 1202.33
R1 1198.76
Pivot 1195.03
S1 1191.46
S2 1187.73
S3 1180.43
S4 1173.13
First option:
-Open long positions when the price breaks up the triangle
-TP at the first daily resistance
-SL can be placed in the first daily support or previous swing low
-Wait for confirmation to open a position
Second option:
-Open short positions if the price breaks down the triangle
-TP at the second daily support
-SL on the previous pivot or swing high
-Wait for confirmation to open a position
Trade closed: target reached
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