GOLD DAILY 08/30/2018
Updated
The price of gold has closed above the daily pivot and is still moving in the channel formed, the range per price movement seems narrowed.
First option:
-Open a Sell position if the price moves below the pivot
-TP 1 at first and second daily support
-TP 2 to daily support if there is price confirmation out of the channel
-SL in the pivot or in the last swing high.
-Wait for confirmation to open a position
Second Option:
-Open a buy position if the price is unable to break the daily support or exit the channel
-TP 1 is among the first daily pivots and resistance
-TP 2 daily resistance, if the price succeeds in living on a pivot
-SL can be placed on either daily support or at the last swing low
-Wait for confirmation to open a position
First option:
-Open a Sell position if the price moves below the pivot
-TP 1 at first and second daily support
-TP 2 to daily support if there is price confirmation out of the channel
-SL in the pivot or in the last swing high.
-Wait for confirmation to open a position
Second Option:
-Open a buy position if the price is unable to break the daily support or exit the channel
-TP 1 is among the first daily pivots and resistance
-TP 2 daily resistance, if the price succeeds in living on a pivot
-SL can be placed on either daily support or at the last swing low
-Wait for confirmation to open a position
Trade closed: target reached
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