Gold Analysis: Sell Setup in Supply Zone
Initially set up for a buy in gold, I was stopped out, but now I'm eyeing a sell opportunity within the supply area. I'm patiently awaiting the price to hit my sell limit. For risk management, I plan to set my stop loss significantly above the recent high at 2452, aiming for a safer trade. Ideally, the stop loss should be at 2452, but I opted for a smaller stop loss to trade a bigger lot size. This is not ideal when trading, but I did it to test the setup and market direction. I anticipate a potential 1 to 2 risk-reward ratio on this setup. Let's observe how this unfolds in the market
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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.