KVE
Long

XAU/USD: Another Gold long, is it the one? Great R/R

FX:XAUUSD   Gold / U.S. Dollar
365 6 6
I've just entered another Gold             long since I got stopped out of the previous one with partial profits.
I went long at the bottom of this corrective channel that I think we could be in.

It is of course possible that we go frurther down to test that lower triangle trendline (red arrow) so my SL is tight on this one!

Targets at previous structure levels, the 1200 round number and the last one is either at completion of a bearish bat or at the upper triangle trendline .

I'm hoping it's the one that brings us all the way up where alot of people are saying it will go! Great R/R in any case on this one so it's worth a try imo!

Part of a possible short trade on a possible bat/trendline bounce is on the chart too, I will post il later if we get closer...
Comment: SL adjusted to 1143
Trade closed: stop reached
Not a good idea fighting the trend...
Reply
I totally agree
Gold opportunity  to buy XAUUSD 2 Target,don
Reply
KVE Hiisham
Tnx 4 sharing!
Smaller timeframe harmonics made me put my stop at 1143 (below 1.618 ext. of previous down move (5M chart), so your short term long should be OK I think.
After that it's wait and see, we could just go straight down to that lower trendline, therefor tight stop on the higher timeframe.
Good luck!
Reply
Yes,
I think,move you SL a little bit down to not slap ur SL and go back up
Reply
4xgood Hiisham
I'm pass on this long, think it would reach out lower to re-test this channel:
snapshot
Reply
KVE 4xgood
Very well possible, I didn't notice that channel. Tnx 4 sharing your view!
Reply
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