Gold Long after H4 TL Bounce
Updated
Gold Long after H4 TL Bounce, buy limit is set, if triggered over night, due to FOMC on Wednesday, may go flat early to avoid a crash in profits. Or protect profits. If this doesnt trigger, I will be looking to make a post FOMC move.
Trade active
Buy Limit activated overnight.Trade active
Decided to move my stop to structure low in prep for FOMC tomorrow if I keep the trade alive for that. It's still a 1:1 risk reward. :)Trade active
...but if it breaks my original SL location today, I will consider getting out and re-enter at a better price maybe after FOMC. Because if it breaks that SL, then its below the h4 TL and has went back into a sell zone. We shall see. Price is in consolidation now.....Trade active
In profits good from last night...will likely hold this position thru FOMC, the move should keep going buy. I am targeting 61.8 fib.Trade active
Changed TP target to 78.6 fib, longer term buy - but still may get out at 61.8, depending on the aggressive FOMC moves.Trade active
Moved stop loss to last consolidation zone, in profit if hit. Still targeting 78.6 fib for tp!Trade active
Tightened stop up to a good profit level in case of small correction. Locking in profits! I am still targeting 78.6, should reach it today! Wait and see.Trade closed: target reached
TARGET REACHED!
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.