I typically trade Gold on 1HR & below but this 4HR set up caught my eye
Confluences:
- Rising Wedge
- Clear Downtrend
- At an area of resistance
- Trend Meets Resistance
Ways to Enter:
Conservative: Wait for price to close below that last area of support (1901.251) then enter.
Aggressive: Have a sell limit at resistance area or sell once price reaches resistance area.
LIKE, COMMENT, and FOLLOW
*tell me what you think of the idea and tell me if you took it :)*
Confluences:
- Rising Wedge
- Clear Downtrend
- At an area of resistance
- Trend Meets Resistance
Ways to Enter:
Conservative: Wait for price to close below that last area of support (1901.251) then enter.
Aggressive: Have a sell limit at resistance area or sell once price reaches resistance area.
LIKE, COMMENT, and FOLLOW
*tell me what you think of the idea and tell me if you took it :)*
Comment:
Move SL into PROFIT around 1888.00! You could've got another entry around that same area as well.
Trade closed manually:
We closed in profit. you could've taken partial profit once you saw the reverse in price start to happen and my trailing SL has been hit due to the break-in structure. At this point, I'm looking for both sell and buy opportunities depending on what price does at this key level.
Trade closed: stop reached:
As you see above I closed the trade manually around 1870, I'm not sure why it kept going on my trade idea!