MGC1! Short Setup - Micro Gold Futures Short (Short Term Trade)
Trade Setup: Continuation to a range fill
Entry Setup: Previous low breakout OR flip depends on how steep the top wick is.
Entry Price: not filled yet
SL: 2757.2 (previous 4H high)
TP: 2729.2 (next major support level)
SL TO B/E: Moving SL to breakeven when price will tap 2734 as it is a minor support.
Look like price is going to mirror the move from 21 October.
Just got 4H Closure bearish after rejected from 2752-2757 level.
Last time price was rejected there he tapped 2729.2.
We finished high impact news for today.
I`m waiting for next 1H open to create top wick tap 2745-2746 then ill take the flip or the previous 1H lows breakout as a sell stop.
Did not submitted trade yet, waiting for next 1H open to provide the entry setup.
Entry Setup: Previous low breakout OR flip depends on how steep the top wick is.
Entry Price: not filled yet
SL: 2757.2 (previous 4H high)
TP: 2729.2 (next major support level)
SL TO B/E: Moving SL to breakeven when price will tap 2734 as it is a minor support.
Look like price is going to mirror the move from 21 October.
Just got 4H Closure bearish after rejected from 2752-2757 level.
Last time price was rejected there he tapped 2729.2.
We finished high impact news for today.
I`m waiting for next 1H open to create top wick tap 2745-2746 then ill take the flip or the previous 1H lows breakout as a sell stop.
Did not submitted trade yet, waiting for next 1H open to provide the entry setup.
Trade active
Order Submitted - entry on 1H flip
Entry Price: 2746.4
Note
when price will break 2744.9 ill move SL to breakeven and let the trade runTrade closed: stop reached
breakeven hitsNote
The mistake i made is that i have entered against my Analysis, as i have entered before price closed bellow the level.
You can see that after price closed bellow, price continue exactly like analyzed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.