Gold show breakout down and now up to retest near trendline again
*** if price still below this zone
It will show sell signal and can hold sell position to next week
with positive swap .
Risk around 50 pips
Bad case : if price more than 1508 will check close price again
if close price more than that will invalid.
Gold will move on to 1600.
Last idea about the caution zone of this peroid.
I think Gold should rise to 1437 too around 90 pips
and Drop sharply to lower zone like charts ( Green line : buy zone )
Finally Gold will go to 1480 +
Let 's market tell ...
While making this post price broke out of range bottom
Range bottom is at 133.20
Daily breakout candle open was at 135.50
Daily ATR is 8.66
1H chart found range levels
Range Trade Rules
Daily candle did not close yet but broke out of range bottom
Breakout candle low was greater than 1 ATR so special entry rules now
Breakout candle open - 1 ATR = Sell Limit...
AUDCHF, we draw on our Fibonacci and we get the drop touching the 50% fib and now we can expect a pullback towards our weekly key area of 0.71899 and continued drop. Will wait for confirmations but I will enter a quick scalp with 15-20 pip risk in my private channel to test the waters.
AUDCHF SELL LIMIT
Stop loss: 0.72079
*-Price broke through the trendline and possibly will retest it.
*-On lower timeframe we see price is making lower lows and lower highs.
*-The retest of the trendline fits perfectly with fibonacci retracements.
*-If this setup is executed I'm place my stop loss just above the resistance
zone in case I'm wrong on this.
*-My take profit will be...
Hi All ,
I will be placing a sell limit at 149.524 . If we have a fake breakout from that resistance level , I will add more second sell position manually . If price respect that resistance level I will add all my sell positions with a target of 145.217.
With Brexit , there's no possibility of a breakthrough to 152.000 like we had in Sept 2017.
So all in all...