Buy the retrace if this pans out, sell the red line or hold with trailing stops.
Good luck.
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PS be advised, US stimulus talks is a fluid situation at the moment. Keep an eye on Trump & Pelosi this week. One of them is bound to say something stupid and ruin the 15 minute chart at some point.
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In addition, ~1913 ish should be the high for now. We want to see this follow the timeline of the arrows. If it doesn't, it isn't valid.
Remember these are just ideas. I can post only what I think is most likely to happen. You can't force the market to do anything, if the trade isn't following your plan, then get out.
Don't get stop run by the bankers. Let the market come to you. You don't go running through the forest with a spear trying to kill a deer. Set up your position, light up a smoke, and let the market come to you.
Patience.
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Okay, if it's going to retrace it should be anytime now. If it doesn't retrace soon, consider this chart invalid. Good luck
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Alright there it is, not quite how I expected it. That's a weird place for us to make a high, the buy level here is probably wrong now as far as your best entry, I'm busy at the moment so just try to make your best decisions
yeah looking good. trade got potential to run. gold was oversold recently.
vox-populi
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@ProjectSyndicate, yeah I'm thinking now that it's possible Friday was a raid on sellside liquidity. If that scenario proves true we could see a new intermediate high :)