Obviously we want to be very cautious going into tomorrow's trading session which features our monthly Non-Farm Employment change aka the Fireworks show. but was digging through some different markets tonight and noticed the abundance of opportunity setting up on gold. The orange Gartley pattern is technically completed but features a very shallow "D" leg which significantly increases the risk and reduces the reward of the move. With multiple harmonic moves and Fibonacci confluence featured in that area it's worth taking a zoomed in view on a lower timeframe inside that "Killzone" and waiting for an alternate entry technique to see if you can grab a better price. Perhaps something to watch and not trade going into Friday.
I'm riding the downtrend on this one on my demo account trying out some stuff from the harmonics @ Fib levels lesson of the Pro Trader course.
Target is set at 1242, a little above the 1.618 extension, with some support structure in Januari & Februari at that level (right in the kill zone you defined).
Akil_Stokes
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Nice, in my Live Trading room I always say when looking for places to take profits "think like the other trader" good stuff!
Nico.Muselle
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A new analysis shows me the downtrend is most probably to continue to an even 1200
Target is set at 1242, a little above the 1.618 extension, with some support structure in Januari & Februari at that level (right in the kill zone you defined).