Bullish Swing Trade on Gold
Updated
I see a bullish trade on the Gold Daily chart and I will be taking trades on the 4h chart within the entry(1884.00) to profit target(TP2 2071.00) (SL - 1841.00)of the daily chart trade(a piggy back trade). seasonality has an 80% chance to see Gold profitably in the cycle May 6 - Jun 6. So technical and statistics are lined up for this trade.
The 4h entry is 1884.00 SL - 1854.00 TP1 - 1948.00 TP2 - 2008.00
The 4h entry is 1884.00 SL - 1854.00 TP1 - 1948.00 TP2 - 2008.00
Trade closed: stop reached
Stoploss triggeredNote
I took a look at the COT report and saw that the asset managers and institutions was positioning short. but I went with the seasonality statistics. Another red flag was that the retail sentiment was bullish and with that I should have reversed my position.
Related publications
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.