Gold: Bullish Rebound!
Update: Price retraced again to test 1280.00 level, had a new opportunity to long
1)Multiple crossover above and below the moving averages indicates a bias-less market, sideways bias is favored for me,
2)Testing a major horizontal support area,
3)being rejected strongly
4)potential bullish divergence on Momentum
I will long anywhere near 1280 targeting 1300 and 1330, with a stop just below today's intraday low
Good Luck, join me at :
twitter.com/thefxchannel
thefxchannel.com
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
1)Multiple crossover above and below the moving averages indicates a bias-less market, sideways bias is favored for me,
2)Testing a major horizontal support area,
3)being rejected strongly
4)potential bullish divergence on Momentum
I will long anywhere near 1280 targeting 1300 and 1330, with a stop just below today's intraday low
Good Luck, join me at :
twitter.com/thefxchannel
thefxchannel.com
-------------------------------------------------------
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
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