luke1827
Long

Long Gold | Breakout Trade | Daily P-Pivot Take Profit Target

FX:XAUUSD   Gold/U.S. Dollar
214 1 3
Fellow Traders,

I see signs of Gold             breaking out of the downsloping red channel. My first take profit target will be just before the Daily P-Pivot at 1252. I have set my stop loss below the weekly low at 1187.2. We have the 38.2 Fib Level acting as a key support at 1198.22, and S1 Pivot also acting as key support at 1197.01.

Riskier traders looking to commit a larger amount of capital to this trade might consider a tighter stop at 1196.

I'm looking to pyramid into this trade and so will start by risking 1% of my capital with stop loss set at 1187.2

Entry: 1208.8
TP: 1255
SL: 1187.2

Trade safe!
luke1827 PRO
2 years ago
Update - 4:13pm SGT 6 March

15 Min Chart has bearish outlook with support becoming resistance
snapshot


240 Min Chart Support on uptrending fork needs to hold or I will be exiting this trade for a loss
snapshot
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out