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AlphaDreams
Mar 7, 2017 1:49 AM

Gold Bull Butterfly 1H TF Long

Gold/U.S. DollarFXCM

Description

Targets on chart. Two areas of entry. 1222 to 1217 pay attention closely.

There is a good amount of sideways action recently as we come into news and/or rate hikes. So things might not be too clear or might change direction before higher targets, I've found. Volume might be low due to this too. Weak moves that don't make higher targets spell turn-a-rounds in trending markets.

Be safe, have fun.

Comment

1222 and 1217 are not the entry areas. Those are on the chart. 1217 and 1222 would be possible stops.

Comment

Moving slow, not many clues yet. Going to bed. I have 2 longs open, sl 1217. Alerts at 1220. Will manually manage as needed.

Comment

Gold finished a little more extended. Keeping an eye on it, could be temp pullback, medium correction on lower degree waves or a possible reversal. I'm hesitant about the later.
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