When we look at the chart we can see that the price on the daily chart just broke out of the wedge. If we get to see another daily close above the wedge we could consider to go long.
Entry: 1768,5
Stop loss: 1659
Take profit zone 1: 1944,56
Take profit zone 2 :2066, 80 (Around the all time high point)
Risk-Reward: 2,72
Risk: 1-2%
The plan for me is to close 40% of the trade at the take profit 1 zone. I will then close 30% at the take profit 2 zone. The remaining 30% I will keep running.
Once we get to the take profit zone 1 I will also be looking to put my SL to breakeven so that the trade than runs risk free.
If you have any questions, feel free to PM me.
If you like the idea do not forget to give it a like and feel free to share your idea for Gold in the comments.
Entry: 1768,5
Stop loss: 1659
Take profit zone 1: 1944,56
Take profit zone 2 :2066, 80 (Around the all time high point)
Risk-Reward: 2,72
Risk: 1-2%
The plan for me is to close 40% of the trade at the take profit 1 zone. I will then close 30% at the take profit 2 zone. The remaining 30% I will keep running.
Once we get to the take profit zone 1 I will also be looking to put my SL to breakeven so that the trade than runs risk free.
If you have any questions, feel free to PM me.
If you like the idea do not forget to give it a like and feel free to share your idea for Gold in the comments.
Trade active:
I got into the trade today.
If you want to you can still enter now or you can wait for monday to get into the trade.
I will update this trade on Sunday with a new chart in the lower time frames.
If you have any questions about this trade you can always PM me or comment on this post.
For the people that are in: Good luck!
If you want to you can still enter now or you can wait for monday to get into the trade.
I will update this trade on Sunday with a new chart in the lower time frames.
If you have any questions about this trade you can always PM me or comment on this post.
For the people that are in: Good luck!
Comment:
When we look at the chart we can see that gold did not really move this week. The price is still around the entry point and not really moving away from it for now.
As mentiont before this trade could take a while to hit the take profit.
I will update this idea with a chart today or on Sunday
As mentiont before this trade could take a while to hit the take profit.
I will update this idea with a chart today or on Sunday
Comment:
No need for a chart really because it did not move enough to do that.
Idea is still the same and it looks like it is just messing around a little. It's not at a important support or resistance zone so for now it is just waiting and looking for what next week will bring.
Going to be looking at this pair every day and will update it if I feel like an update is needed.
If you want an update during this week just send me a message and I will give it to you as soon as possible.
Idea is still the same and it looks like it is just messing around a little. It's not at a important support or resistance zone so for now it is just waiting and looking for what next week will bring.
Going to be looking at this pair every day and will update it if I feel like an update is needed.
If you want an update during this week just send me a message and I will give it to you as soon as possible.
Comment:
Not much to say at the moment.
Trade is going good just let it run and relax.
Trade is going good just let it run and relax.
Comment:
Make sure that your sl is at breakeven because we get to see the NFP reports this week and that could be volatile for gold.
We can see that the Monday candle was a red candle so that is not enough to activate the trade for me.
Will be looking for other entry's during this week because for now the setup is still valid and it all still looks good. Just got to wait and stay patient.