Gold Short Potential 200+ Pips
Updated
Looking For Gold Shorts around 1520 area.
"There must be buyers, in order for there to be sellers"... so with that in mind, I am factoring in the fact that Gold dropped 300 pips yesterday.
AS OF TODAY, Gold had seen price wick down toward 1500 before USD News release came out today before making a small rally.
Tomorrow, we will have more News release however with the Fed Member Quarles speaking, I believe we are in for yet another huge drop.
When price enters my zone around 1520 or blue trading bubble, I will be looking for entries as follows:
SELL LIMIT @ 1520.50
SELL LIMIT @ 1522.50
SL 1525.50 (WILL RE-ENTER IF SL IS WICKED OUT)
TP1 @ 1510.85
TP2 @ 1502.50
TP3 @ 1494.50
"There must be buyers, in order for there to be sellers"... so with that in mind, I am factoring in the fact that Gold dropped 300 pips yesterday.
AS OF TODAY, Gold had seen price wick down toward 1500 before USD News release came out today before making a small rally.
Tomorrow, we will have more News release however with the Fed Member Quarles speaking, I believe we are in for yet another huge drop.
When price enters my zone around 1520 or blue trading bubble, I will be looking for entries as follows:
SELL LIMIT @ 1520.50
SELL LIMIT @ 1522.50
SL 1525.50 (WILL RE-ENTER IF SL IS WICKED OUT)
TP1 @ 1510.85
TP2 @ 1502.50
TP3 @ 1494.50
Trade closed: target reached
TP2 & TP3 SmashedTrade active
Trade is now running 400+ pips
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