We are looking BA and we have this ascending triangle in the weekly chart. We'll be monitoring it but its a long term/swing position as weekly movements take a bit of time to develop.
Conservative play: wait for close above 364.73 and long with short below the formation
Entries: 365.17
Target 1: (trailing stop-loss 25 usd / choose your own targets for taking...
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Best part of this trade? Just counter-trade me. I'm from crypto and have no idea what I'm doing (no sarcasm).
This gold sell off so far is low volume and appears to me to have a high chance to simply be trapping weak hands and bad shorts underneath weekly close....
If we can break above $55.2, I can see this going to $62.5-$63.
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This is a simple idea I've been contemplating, specially appliccable for people using 1broker to trade, while holding BTC. If you trade with no leverage, you can afford to have things move down quite a bit before being hard stopped (losing 84% of the position's value), so this lets you keep a 'cash' savings account, holding BTC and some stock CFDs.
(This same idea...
The Aussie closed the week taking out a key support around the 0.7603 level as well as two key trend line support levels off the 4h and daily charts. We are currently coming into a 4h demand level around .75 so a bounce around here is not out of the question.
However, given the weekly close and weakness in the commodities markets following China cracking down on...
Price has been coiling up down here. London open soon...Asian session buys before London opens to dump? Great risk / reward with a tight stop at 1.1155 in case of a breakout.
