Due to my cycle count we will be heading down the DCL during the next 5-9 days.
At least we should test back the breakout at 4737 $.
Notice the 4hrs chart RSI divergence and MACD divergence.
I would suggest to use stops at this trade:
1. SL: 4820$.
2. Or you can use the blue trendline as a stop loss. If a significant close - price breaks above the blue trendline and close there - will be I will close the trade manually and post it here.
I think gold's yesterday night breakout is predicting a fall in stocks in the rest of this week.
At least we should test back the breakout at 4737 $.
Notice the 4hrs chart RSI divergence and MACD divergence.
I would suggest to use stops at this trade:
1. SL: 4820$.
2. Or you can use the blue trendline as a stop loss. If a significant close - price breaks above the blue trendline and close there - will be I will close the trade manually and post it here.
I think gold's yesterday night breakout is predicting a fall in stocks in the rest of this week.
Note
It looks good. Seems we entered the perfect hourly candle.One could set / move the stop to break even.
Note
Don't forget to use the "trendline stop"Note
On the picture I've set it how I'm moving my stop now.Note
Taking profit on half of the positionNote
Price is 4774.Note
Closing the other half of the position at 4794.Trade closed manually
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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.