LONG XAUUSD @ 1900
TP @ 1974 - 2000
SL @ 1864
We have seen Gold consolidating around the 1890 - 1900 mark. There is significant support at the 1890 lvl, and as long as we trade above that, I remain bullish on gold. Especially in the current environment, gold has proven its safe haven status. I will load up on another clip at 1890 if we test there. Looking for 1874 (last weeks highs) and possibly even 2000.
So, first clip long at 1900, second long at 1890 (if it drops to that lvl). TP1 at 1874, TP2 at 2000. Stop for all clips at 1860 which is our 50% fibbo support.
This trade offers a 2:1 RR ratio.
Goodluck and feel free to comment below.
TP @ 1974 - 2000
SL @ 1864
We have seen Gold consolidating around the 1890 - 1900 mark. There is significant support at the 1890 lvl, and as long as we trade above that, I remain bullish on gold. Especially in the current environment, gold has proven its safe haven status. I will load up on another clip at 1890 if we test there. Looking for 1874 (last weeks highs) and possibly even 2000.
So, first clip long at 1900, second long at 1890 (if it drops to that lvl). TP1 at 1874, TP2 at 2000. Stop for all clips at 1860 which is our 50% fibbo support.
This trade offers a 2:1 RR ratio.
Goodluck and feel free to comment below.
Comment:
TP hit on gold, +740 pips! :) (March 9)