Last weeks trade smashed for over 700 pips , for this week we are looking at entering a sell at
2797 down to 4 hour resistance at 2774/5 for a total of 220 pips .
Once we are down to 2774 we can expect a rejection and rise to previous ATH of 2816.
Entry would be based on break and retest of 2774/73 taking profit on the way up to 2816 for a total of 445 pips so between the two trades we can target 665 pips.
Trade is based on trend lines on the 4 hour and daily have marked out areas that were respected and we are holding to this trend.
Entry level for the buy lines up with fibonacci 0.618 level exactly so I have high confluence in this .
As always with these type of trades use proper risk management and secure profit by either taking partials on the way or moving your SL
This is not financial advice nearly sharing what I see for gold in the coming week.
Ill update this trade when entry has been reached .
2797 down to 4 hour resistance at 2774/5 for a total of 220 pips .
Once we are down to 2774 we can expect a rejection and rise to previous ATH of 2816.
Entry would be based on break and retest of 2774/73 taking profit on the way up to 2816 for a total of 445 pips so between the two trades we can target 665 pips.
Trade is based on trend lines on the 4 hour and daily have marked out areas that were respected and we are holding to this trend.
Entry level for the buy lines up with fibonacci 0.618 level exactly so I have high confluence in this .
As always with these type of trades use proper risk management and secure profit by either taking partials on the way or moving your SL
This is not financial advice nearly sharing what I see for gold in the coming week.
Ill update this trade when entry has been reached .
Trade active
Trade active running 185 pipsNote
Buy running 386 pipsTrade closed: target reached
Full TP 433 pips tradingview.com/chart/LwuxBPku/
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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.
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.