Gold seems like being in a short term correction after touching 1315- two year high. A short is recommend if price has a break out of the triangle and the internal trend line. MACD indicator also has a bearish divergence. Support is the yellow areas which coincides with 50% Fibo Retrace from 1199 to 1315.
Trade plan:
- Sell stop @1277.
- Take profit @1260.
After trade is active, I will post a stop loss level.
Trade plan:
- Sell stop @1277.
- Take profit @1260.
After trade is active, I will post a stop loss level.
Note
Gold is on the verge of breaking out.Trade active
Sell Stop order was hit @1278. 100 pips so far. Still targer 1260.Note
Stop Loss is set at 1280. Take profit @1258.Trade closed: target reached
Gold reached $1258. Took profit.
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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.