tntsunrise
Long

GOLD 1H BAT Pattern with 1.618 ext Long Entry

FX:XAUUSD   Gold/U.S. Dollar
2040 14 80
XAUUSD             1h BAT Pattern
1.618 ext @ 1166
0.886 xa @ 1166.41

1163 is a good structure to place stop loss
Look for price action at the entry zone and also look for
RSI Confluence
Comment: FIRST TARGET HIT:
CLOSE HALF POSITION
REEST BREAK EVEN
Trade closed: target reached: TP1 Closed
The rest stopped at break even
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Still long?
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tntsunrise TOP Roespinozache
yeah? why not..it goes north right
+1 Reply
Well done.....
Reply
Nice strategy sir, perfect played.
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I noticed your chart for the run up to 1190 last week was spot on pretty much. Please would you confirm you are still confident of this one as gold dropped to your buy target today. I'm curious on your target though this time. 1190 again would be a double top - do you think the bull run is over after that? What about your advice not to short until it hits the 1.618 expansion?
Reply
yes entered. 1st target is 1175.
+1 Reply
Finenance tntsunrise
Thanks for confirming. I don't use harmonics but my chart indicates the retrace is done too (bounce off the 12EMA). Even so, my confidence is low on this one. If you have time, I'd appreciate an explanation of the 1190 target though. TIA
Reply
1190 is the range top. My longer term view of gold is it will go 1257.
+1 Reply
Finenance tntsunrise
OK, thanks. I'll continue to watch nervously and hope we are both trading in the right direction! I'm looking for 1300-1320 top towards the end of the year and can't see a double top at 1190 on my own charts but I am a novice so please forgive the questions.
Reply
FIRST TARGET HIT
+1 Reply
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