GOLD Potential Buy
Updated
NFA. Please Trade at Your Own Risk
This is one of my setup for GOLD and major forex pair. This is what I see and enter my trade
- Divergence on stochastic. Higher stochastic and low stochastic were used to see divergence and the strength of the trend. Price is in the triangle waiting for the breakout but looking at the stochs, the selling pressure is getting weaker as opposed to the buy pressure.
- Price retracing back to the dominant breakout. This is the area to open 3 contract and set my SL at 1843.4 (High Risk)
- My plan is to scalp 1 contract, moved my SL to positive breakeven for other 2 contract. The second TP would be the next supply zone at the top
TAYOR
This is one of my setup for GOLD and major forex pair. This is what I see and enter my trade
- Divergence on stochastic. Higher stochastic and low stochastic were used to see divergence and the strength of the trend. Price is in the triangle waiting for the breakout but looking at the stochs, the selling pressure is getting weaker as opposed to the buy pressure.
- Price retracing back to the dominant breakout. This is the area to open 3 contract and set my SL at 1843.4 (High Risk)
- My plan is to scalp 1 contract, moved my SL to positive breakeven for other 2 contract. The second TP would be the next supply zone at the top
TAYOR
Trade closed: stop reached
As the news was announced, the price dive down to the SLLesson : Triangle is the worst place to enter position. But trading is about smart manage the risk. Manage the risk, profit will outweigh the losses. This is still the most profitable trading indicator on my end
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.