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Long trade idea on GOLD.
Gold is in a current up trend and the price is retesting on 200 MA, retesting on possible but not confirmed trend line yet, retesting on support and on RSI 50.
I would set SL a little lower from the previous HL.
If you have any questions please write them in comments!
Good luck! 📈📈📈
Trade closed manually
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I don't like the market movement so I am closing profit here!
Made good profits by selling 1856 and 1844 area...
Bboyxan
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@stanketa, Yes like I posted I closed buy trade on 11 feb 2021 - 13:00, and went into sell. 💸💸
TradingBonus
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@stanketa, I did great BUY profit from 1834 - 1852. Thanks :)
stanketa
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On 1hr chart is only short term trend. To properly use 200ma for 1hr chart you have to multiply 200 by something can't remember...
stanketa
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Gold is in current distribution and downtrend not uptrend, to become uptrend has to pass $1880 at least...
Bboyxan
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@stanketa, gold is in current up trend. But on lower time frame that you are talking about. If you look on shorter time frames you have trends when on longer timeframes there aren't.
stanketa
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@Bboyxan, that is right so be careful what you do as shorter timeframe, shorter is trend also. So big move more happens on longer or current trends.
Trading_Papa
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@stanketa, What you said is just nonsense. Goodluck.