Target one is in the bag for this nice GC1! trade. We have pulled stops down and now have a "free" trade. PLEASE review our past posts to see how this setup. There are about 3-6 "great" trade opportunities a year in Gold (GC1!) and this is one of them. If you manage these opportunities well then you don't need more than 3-6. Trade well!
Totally agree with you about price being an area instead of an exact figure and looking into lower time frames for exact entries.
OffTheFloorTrader
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The market is not that perfect so it's hard to pick an exact number.
OffTheFloorTrader
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Prince Kashi...focus less on an exact entry point. Look for an area, per my comment above, and then look for a trigger to get you into the trade. It's a higher probability trade with defined risk. If you are looking for a number than price could blow through your entry and take you out quickly...plus it's much easier to define risk off a trigger.
OffTheFloorTrader
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We will add positions once a pull target is hit and the short time frame triggers us in. Our target on this pull back is 1270-1275 area. Drop down to a lower time frame and wait for trigger. Our rules for adding is keep the stops tighter on the add-ons.
EliteTrader101
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I missed the short so now i have to wait for the pullback. Are you adding back your shorts when we get back up to the edge?