Long on GOLD 12-26-21
Gold is currently at a Resistance Zone but showing promise of breaking it.
I have placed the following pending order for if price does break above the resistance zone.
PAIR = XAU/USD
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1812.00
STOP LOSS = 1798.31 - 1369 TICKS / $13 LOSS
TAKE PROFIT = 1870.70 - 5870 TICKS / $58 GAIN
If price does not break the zone, I will wait for a break of trendline around $1803 before getting in for a sell to $1786 for a $17 profit.
Price has also rejected the 38.2 Fibonacci level and 1hr uptrend line.
I have placed the following pending order for if price does break above the resistance zone.
PAIR = XAU/USD
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1812.00
STOP LOSS = 1798.31 - 1369 TICKS / $13 LOSS
TAKE PROFIT = 1870.70 - 5870 TICKS / $58 GAIN
If price does not break the zone, I will wait for a break of trendline around $1803 before getting in for a sell to $1786 for a $17 profit.
Price has also rejected the 38.2 Fibonacci level and 1hr uptrend line.
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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.