Bearish 78.6% Retracement
Trading Plan
Trade Management
StopLoss: C
TakeProfit: 1.618 of AB projected from C
Good luck to everyone trading gold!
- Visual interpretation of Fibonacci retracement plotted as ABC on chart
- A price movement of 61.8% in direction of A to B projected from C
- Pending limit order at 23.6% in direction of A to B projected from C
Trade Management
StopLoss: C
TakeProfit: 1.618 of AB projected from C
Good luck to everyone trading gold!
Trade active
Sell limit pendingTrade active
Sell limit filledTrade closed: stop reached
-1%Note
Closing 33% at the .618 level would mitigate risk to roughly 16% of initial position. In this case, the loss of the trade had been only .16% compared to the initial 1% risk.
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.
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.