Prepping the long for gold
Updated
False breakdown of prime trend-line (white line), currently reclaimed.
Would not look to long here - rather I would look for a break of R1 resistance @ 1905
and look to rebuy on a retest of previously strong resistance.
Likely scenario would be ->break 1905 ->test 20DMA -> retest 1905 support -> target 1945.
We can set our stop losses below S1 @ 1881, giving us a 1.67:1 risk to reward.
Good luck and cheers,
Mayo
Would not look to long here - rather I would look for a break of R1 resistance @ 1905
and look to rebuy on a retest of previously strong resistance.
Likely scenario would be ->break 1905 ->test 20DMA -> retest 1905 support -> target 1945.
We can set our stop losses below S1 @ 1881, giving us a 1.67:1 risk to reward.
Good luck and cheers,
Mayo
Note
Got our perfect bounce off the 20 Daily and continued upwardsTrade ACTIVE
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