Target one hit on the gold trade. Found the weekly trend with weekly MACD showing downward momentum. Took the trade on the Daily chart for the entry and stop loss placement. Managed the risk on the daily chart and took the Target 1 and Target 2 on the Weekly chart. I find that this gives the best Risk to Reward ratio when done this way. Also take a look at the Sling Shot indicator by Chris Moody. It works great on the Daily chart and can be used to find your entry point "aggressively" using the yellow painted candles and "conservatively" using the blue painted candles. Again this is a great indicator to use on your "trigger chart" for entry points. But in this particular SHORT trade I did not use the slingshot... however take a look to the left and see where it shows you the entry to go long. I like using the slingshot at a major level of support or resistance on the weekly chart which I sync to the daily trigger chart.
