So the long from 1830 of Friday's NY session got to its prudent target (1839) at 06:00 UTC. By 09:00 UTC we were triggered into shorts via sell limits at 1843 and were out by
15:00 UTC and into longs when 1830 held as support again. Love it when Resistance becomes support and holds.
We entered 2 positions simultaneously one aiming for 100 pips and a more ambitious one (234 pips) aiming at 1854.9.
The smaller of the 2 has hit target already and we have stop losses at +40 pips profit on the second.
If Gold wants to use this week to do a pump we are still looking at 1860-65 and 1870-75 as places this mega sell could happen from as there are a few more Red Vector candles up there to be recovered.
THIS IDEA IS ONLY LONG FOR AS LONG AS IT CAN KEEP BREAKING RESISTANCES OTHERWISE ITS STRAIGHT BACK TO BEING SHORT
If Gold fails to break above we know the rest! (MUST BREAK AND CLOSE ABOVE 1847.5 ON 4HR OR DAILY TO HAVE A CHANCE OF CONTINUING)
The short scalping was lots of fun but this thing looks serious about rallying up. If it doesn't we will be back to the same behaviour. Don't be fooled and marry the long so easily though as this is kind of what Gold does when it wants to drop soon after. An override of 200-300 pips before a major drop is not unheard of for Gold. With potential intended US rate hikes and everything, a fall is due at some point.
We still need to remember that Green Vector candles manipulated us up to these levels and they can be recovered before carrying on up even if that is the plan.
Furthermore, even though this is a long idea we are still being held by 1844 as of today's action but a nice Gap up in Asian would be lovely if it can happen.
The Green Vectors are down at 1822, 1810, 1805, the juicy Green Vector candle down at 1765 (Wick bottom 1753) looks like a nice place to aim for. The next levels where Green Vector candles exist are down at 1740, 1730, 1720 and of course our ultimate short target to fill the Rogue wick from last August (1668-1680) will be our super extended short targets.
The next Red above is as follows:
First contact 1850, body top 1860 wick top 1866. Thereafter we're looking at a Candle at 1870 and 1874 from 161121.
Progress check!
25 trades since 11th Jan
14 shorts 10 50-90 pip scalps (3 x 100+ pips)
11 longs 7 50-90 scalps (2 x 150+ pips) (2 x 100+ pips)
23 wins
1 loss
1 long running
Good luck guys!
This is not financial advice and should be taken with a pinch of salt.
15:00 UTC and into longs when 1830 held as support again. Love it when Resistance becomes support and holds.
We entered 2 positions simultaneously one aiming for 100 pips and a more ambitious one (234 pips) aiming at 1854.9.
The smaller of the 2 has hit target already and we have stop losses at +40 pips profit on the second.
If Gold wants to use this week to do a pump we are still looking at 1860-65 and 1870-75 as places this mega sell could happen from as there are a few more Red Vector candles up there to be recovered.
THIS IDEA IS ONLY LONG FOR AS LONG AS IT CAN KEEP BREAKING RESISTANCES OTHERWISE ITS STRAIGHT BACK TO BEING SHORT
If Gold fails to break above we know the rest! (MUST BREAK AND CLOSE ABOVE 1847.5 ON 4HR OR DAILY TO HAVE A CHANCE OF CONTINUING)
The short scalping was lots of fun but this thing looks serious about rallying up. If it doesn't we will be back to the same behaviour. Don't be fooled and marry the long so easily though as this is kind of what Gold does when it wants to drop soon after. An override of 200-300 pips before a major drop is not unheard of for Gold. With potential intended US rate hikes and everything, a fall is due at some point.
We still need to remember that Green Vector candles manipulated us up to these levels and they can be recovered before carrying on up even if that is the plan.
Furthermore, even though this is a long idea we are still being held by 1844 as of today's action but a nice Gap up in Asian would be lovely if it can happen.
The Green Vectors are down at 1822, 1810, 1805, the juicy Green Vector candle down at 1765 (Wick bottom 1753) looks like a nice place to aim for. The next levels where Green Vector candles exist are down at 1740, 1730, 1720 and of course our ultimate short target to fill the Rogue wick from last August (1668-1680) will be our super extended short targets.
The next Red above is as follows:
First contact 1850, body top 1860 wick top 1866. Thereafter we're looking at a Candle at 1870 and 1874 from 161121.
Progress check!
25 trades since 11th Jan
14 shorts 10 50-90 pip scalps (3 x 100+ pips)
11 longs 7 50-90 scalps (2 x 150+ pips) (2 x 100+ pips)
23 wins
1 loss
1 long running
Good luck guys!
This is not financial advice and should be taken with a pinch of salt.
