Hey guys,
Thought I'd share the trade I took this afternoon (EU time) on Gold.
I was waiting for the price to get in my potential bounce zone (Demand Zone).
Once the price entered this zone, I wanted to see a kind of breakout according to the pattern I could see.
I simply drew a trendline and waited for a breakout.
This occurred at 3.30 PM with a nice engulfing bullish candle, as shown in my chart, which by the way also broke the VWAP.
I entered a long position at the next candle and I am currently targeting the next imbalance zone @ around 1872.50 - 1872.80 area. This area, according to the volume profile, is a high volume node (HVN) and should attract the price pretty fast.
We could see some rejection from there so I will not target a higher price.
That's it, guys!
If you like my ideas, please show some ❤ with a comment or a like!
You can also check my previous ideas just below
Jesse
Thought I'd share the trade I took this afternoon (EU time) on Gold.
I was waiting for the price to get in my potential bounce zone (Demand Zone).
Once the price entered this zone, I wanted to see a kind of breakout according to the pattern I could see.
I simply drew a trendline and waited for a breakout.
This occurred at 3.30 PM with a nice engulfing bullish candle, as shown in my chart, which by the way also broke the VWAP.
I entered a long position at the next candle and I am currently targeting the next imbalance zone @ around 1872.50 - 1872.80 area. This area, according to the volume profile, is a high volume node (HVN) and should attract the price pretty fast.
We could see some rejection from there so I will not target a higher price.
That's it, guys!
If you like my ideas, please show some ❤ with a comment or a like!
You can also check my previous ideas just below
Jesse
Note
still in this trade
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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.
Related publications
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.