IF 1257 BREAKS LOWER THAN: updated trading plan -based on 4HR 20EMA crossover -$1247 is 78% retracement -$1243 is wedge bottom
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we hit our target, will long on sun/mon
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next top can be as high as $1300-1333
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There might be 1 more bearish 4hr candle to $1243 so dont long yet! decide on monday/sunday after the next 4hr candle!
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its ok to long on monday/sunday. bottom is near. this channel is still valid
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$1243 seems like a likely bottom. i will long from here with sl at $1240
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it can do Slight lower as no one knows the exact price support. it might bounce off the previous wedge line which is around $1240-1243. so if ur sl hits, just reenter at a better price.
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$1300, 1315 and 1333 are my tp1,2,3 targets
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We have bottomed it seems. 3 bullish candles on 4Hr chart. i am now long, will add more as we go up. wont fully commit to this trade until after fomc
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Price went lower than expected. best to stay out of market until 15mins after fomc release! first 15mins of news often can give false trends. trade the main trend after 15mins, there is still potential for a bull rally after fomc. i would stay out of market today. there might be 1 more leg down as we are below the wedge line.
I saw bearish divergent on H4 chart. Can you give me some advice for gold since I still hold long positions and quite frustrate what should I do next T_T. Thanks.
Loii
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there is a hidden bullish divergence on H1. hold if you can
iammathawee
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Thanks, I hope we are near the bottom so I still hold my position.
Loii
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next time always use sl of $2-3
iammathawee
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So often when I set SL too close, the order was closed then the price reverse to my position.
well done dude. Thanks !