Guys,
gold may be setting up a flat pattern. It is targeting into the 1295-1310 area. Wait for an impulse to complete along with decreasing momentum!
This results into a tight S/L setup leading to a 1:6 Risk / Reward trade.
We have to be a little patient here to pull the trigger.
gold may be setting up a flat pattern. It is targeting into the 1295-1310 area. Wait for an impulse to complete along with decreasing momentum!
This results into a tight S/L setup leading to a 1:6 Risk / Reward trade.
We have to be a little patient here to pull the trigger.
Note
The impulse to the downside may be complete right now.We need to wait for a 5-wave rebound as well as a 3-wave correction of that rebound to trigger the trade.
Trade active
ok guys, pulling the trigger here. tight s/l at 1301.Trade closed: stop reached
-0.61%This is the conservative version of playing this trade. Would reopen if seeing a motive wave bounce followed by a 3-wave pullback.
The contraction support is still working. Hence, an aggressive version is to keep this open / reopen until it gets breached.
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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.