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TheForexSamurai

SHORT on the GOLD with point of Validity for added BIAS.

Short
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
TheForexSamurai Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
3
0
Take note that market price right now is at our PRZ of Bear Butterfly. With that it is also at our Potential C point of A bullish Cypher. So price break and close above the redline (141.4% XA ext for Cypher) will invalidate all setup including us to get stop out on this short (sell) trade. Aggressive can enter now and stops above the red line, while Conservative can wait for clear breakout of the lower trend line. Caveat.
Comment:
Usually I trade the Butterfly with a 1:1 RR to TP from the entry. If what would be my TP 1 (pips on target) that would also be my risk. In this case. It would look like this.
snapshot
Comment:
A BO already of the lower TL. Conservative can go SHORT. with stops above the red line.
Comment:
We do still have a valid bear setup. You may short the market. We have a follow up trade setup right here. You may wanna check related ideas or my published ideas about it. Enjoy and of course trade with care.
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