Quite strong 4h bullish candle moving above downtrend line and previous structure.
Closing this way, I will be looking for a test to 50% fib retracement and buy.
May not retrace a lot having the current downwave already being able to go quite far.
Bullish divergence on RSI.
Target: 1480, about 50% fib retracement of main down-movement corresponding to latest daily support.
The latter has been respected quite well for over 3 months.
Stop loss: below the 4h break-out candle.
If it gets close to target, price action will monitored; may use a trailing stop if uptrend looks strong.
Main weekly trend is still up so I would rather focus only on buys with gold.
Reward/Risk: about 7.5
Will take some profit along the way to possibly enjoy a risk-free trade.
Never knows if a new weekly wave is borning now after 2.5 months consolidation.
Lot size: 2% of capital
This is just my view and not a financial advice.
Trade with care!
Closing this way, I will be looking for a test to 50% fib retracement and buy.
May not retrace a lot having the current downwave already being able to go quite far.
Bullish divergence on RSI.
Target: 1480, about 50% fib retracement of main down-movement corresponding to latest daily support.
The latter has been respected quite well for over 3 months.
Stop loss: below the 4h break-out candle.
If it gets close to target, price action will monitored; may use a trailing stop if uptrend looks strong.
Main weekly trend is still up so I would rather focus only on buys with gold.
Reward/Risk: about 7.5
Will take some profit along the way to possibly enjoy a risk-free trade.
Never knows if a new weekly wave is borning now after 2.5 months consolidation.
Lot size: 2% of capital
This is just my view and not a financial advice.
Trade with care!
Comment:
Going quite well so far, I am booking some profit now as it is half way to my target.
Comment:
Taking some profit at 0.382 fib retracement of last bearish wave (level on the chart), price may pull back now: ready to buy some more if I see lower price.
4h uptrend looks solid so far, short term focus on buy.
4h uptrend looks solid so far, short term focus on buy.
Comment:
Fibonacci theory never stops to amaze me.
Price came back to perfect 0.618 retracement and bounced strongly from there; the strategy to sell some and buying again at lower price is paying well so far.
Price came back to perfect 0.618 retracement and bounced strongly from there; the strategy to sell some and buying again at lower price is paying well so far.
Comment:
Best thing was not being hit by a few pips after having moved stop loss to entry point.
Comment:
1475 is currently trying to confirm itself as good resistance, it happened already twice; a red candle may be printed.
Considering the uptrend started from 1445, price ran 30 usd already.
Will see how current candle closes: if following one breaks its low I will book some more profit expecting the price to move lower.
Still focusing on long, I may consider to buy again if price retests 1456.
Considering the uptrend started from 1445, price ran 30 usd already.
Will see how current candle closes: if following one breaks its low I will book some more profit expecting the price to move lower.
Still focusing on long, I may consider to buy again if price retests 1456.
Comment:
Hit break-even stop loss.
This is why it is very important to take partial profit along the way especially if initial target is far from starting point.
Positive trade!
This is why it is very important to take partial profit along the way especially if initial target is far from starting point.
Positive trade!
Comment:
Final target missed by only 2 usd out of 25.
About 90% hit
About 90% hit