faylee
Long

2nd Setup for bull

OANDA:XAUUSD   Gold
1742 22 52
There's no supperise for FOMC, I bought after retracement done.
Entry:$1252
TG1:$1262
TG2:$1283
TG3:$1289
Comment: 1st TG approached, update below chart for following. Once break up $1262, will lead to TG2. If break down the red trendline, this trade will be stopped.
I've moved the SL to $1255.
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Comment:
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Comment: In 5m chart, there's a retracement. watch$1252-1253 support
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Comment: in 1H chart, likely the price good to buy again, if retrace to $1257-1254.
TG: $1285-1292.
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Comment:
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IF apply AB=CD theory;
AB is 1256-1273
C value 1261
so; D target (1261+1273-1256)=1278 exit
(AB-CD) is (1256-1273)=(1261-1278)
Comment: In 4H chart, MA55 still holds, if break out $1268, will continue with the uptrend
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Comment: still within the range, but upward. In short term, take care of the resistant $1280. I'll buy dips.
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Comment: TG2:1283 hit!
Comment: BOJ rate decision in 3-4hours later, Gold price is very possible to touch $1286-1287.
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Comment: Break out,buy @1277.86
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Comment: $1286-1287 Target hit before FOMC rate decision. Pocketed the profits here, and waiting for retracement to buy, next target $1293, further more $1306-1307
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Trade closed: target reached: TG3 reached!
Trade closed: target reached

Related Ideas

Smart move (at least as far of now : )
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Watch silver it is moving............... :)
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if you had posted this 15minuteago you would've saved my account but unfortunately i sold and lost
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faylee SungPLM
Oh,sorry, I just posted the chart 5hours ago at Chat room
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SungPLM faylee
dont say sorry not ur fault :) i just hate myself rn and want to jump from a bridge tho haha
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faylee Jia En Cai
Thank you for sharing the chart, it looks possible, but i need more signal confirmed for trading
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Have you been stopped, Fay?
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faylee VirtualFax
yes, but i re-entered, since $1255 support well.
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Perfect. Glad for you; you are a smart trader.
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faylee VirtualFax
Infact I am not smart, i didn't take the costs into account, $1255 is the support, SL should be $1254 at least. The candle tail always cause the troubles.
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But sounds like you learned your lesson :))

I'm trying to place my stops 1%-1.5% to 2.5%-3% below the major support price, depending on the each security's volatility. But I'm also trying catch the price at the support level. And since, I'm typically not desperate in buying, the worst that could happen with such approach - I would miss a trade. But I'd rather miss a trade then lose substantially on the trade.
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faylee VirtualFax
yeah, agreed with you, risk control is very important. Few newbie can be aware of that indeed, they always complain the lost is due to they don't have excellent techniques.
+2 Reply
wish u would use japan candle instead of this also i'm wondering why it says XAUUSD but shows OANDA ? i'm confused
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What is the last harmonic pattern in your comment,crab or some other pattens?
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faylee AdamHong
yes, crab
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This is the entry and stop levels we're using for this setup.
Buy setup with entry and stop levels
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faylee dennis09
Hi, Dennis, nice share! Thank you:)
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yea that was nice
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Good job Faylee

well done, :-)
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Beautiful. Congratulations!
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awesome, bull eyes accuracy. please share more
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