Gold Long Setup off Support with Favorable Risk-to-Reward
In this setup, you identified a key support zone around the green area (roughly 2811–2812) and planned to enter a long position there. The idea is that price will bounce off this support and push upward toward the next resistance levels (marked in red around 2816–2817). Your take-profit target is placed near the upper resistance area, aiming for a move of about 15 points (0.54%), while your stop-loss is set below the lower support (around 2807), risking roughly 11 points (0.41%). This creates a favorable risk-to-reward ratio. Essentially, you’re looking for a bullish continuation if price holds above support and breaks past the weak resistance, while limiting your downside if the support fails.
Trade active
Trade closed: target reached
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Congratulations 🥳🥳🥳🥳
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t.me/scalpooo
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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.