Sell based on Clone Resistance. Short

Gold/U.S. DollarFXCM

Description

⋅ Oct 7, 2015 7:47 AM

i will be selling this at the close of current 4hr bar , for a nice run down. my sl is 1168 . TP 1135 for now.

This trade is solely based on Clones.

XAUUSD

Comments

GcNaif

⋅ Oct 8, 2015 3:41 PM

Closed all trades. Clean Slate now

GcNaif

⋅ Oct 8, 2015 2:16 PM

Closed 2 trades and kept one trade open with sl at breakeven

GcNaif

⋅ Oct 7, 2015 2:16 PM

stops moved to breakeven, risk free trade now

2721151

⋅ Oct 7, 2015 9:40 AM

very true....

yujingr

⋅ Oct 7, 2015 8:09 AM

This is my selling point too, and I think gold could easily go down to 1118, and even further down to 1085. May I ask how your pink dotted lines are drawn?

GcNaif

⋅ Oct 7, 2015 10:16 AM

those are the refined support resistance lines using the @nmike Clone Technique. You can view @nmike profile for more examples on clones

Frank_Cowperwood1

⋅ Oct 7, 2015 7:51 AM

So yours SL/Profit=(1168-1148)/(1148-1135)=20/13 :-(

GcNaif

⋅ Oct 7, 2015 7:53 AM

i said for now, i usually keep my tp open , depending on the price action, i could close before 1168 if the PA shows me other direction

Frank_Cowperwood1

⋅ Oct 7, 2015 7:59 AM

Ok! Have a nice trading!

GcNaif

⋅ Oct 7, 2015 7:59 AM

thanks you too.