Another swing trade this week target 230 pips sell first and 553 pips buy next.
We can buy when price retraces back to 2855 expecting to reach 2831 which is fibonacci level 0.5 (2831) for 230 pips.
Buy entry is 2830 targeting high of 2886 which is 553 pips suggested TP,note gold can make further all time highs in the coming week definitely expect 2900 to 2940 range so my plan would be to be secure by moving stops to 2880 and leaving it .
Trade is based on trend lines on the daily , 4 hour and 1 hour plus fibonacci retracement.
Ill update as the week progresses.
With these trades we are using a wider stop loss and reducing lot size because of the high qty of pips we are targeting.
We can buy when price retraces back to 2855 expecting to reach 2831 which is fibonacci level 0.5 (2831) for 230 pips.
Buy entry is 2830 targeting high of 2886 which is 553 pips suggested TP,note gold can make further all time highs in the coming week definitely expect 2900 to 2940 range so my plan would be to be secure by moving stops to 2880 and leaving it .
Trade is based on trend lines on the daily , 4 hour and 1 hour plus fibonacci retracement.
Ill update as the week progresses.
With these trades we are using a wider stop loss and reducing lot size because of the high qty of pips we are targeting.
Order cancelled
Never activated new swing trade sunday
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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.