The oversold AMEX:KOLD presents us with an interesting pattern of 3 uptrends inside each other on the 15 min chart, coming from a daily reversal. The zone on the analysis is located in a sweet spot, giving us the opportunity for a first target at 5:1 and second target over 10:1. Even more if we're wanting to be patient and wait for the breakout the weekly...
XAUUSD has broken structure on the lower time frame and we are aiming for higher highs. However if price is able to trade back into one of these demand zones, we would like to take the opportunity to open trades in these areas. We would like to see some sort of reaction in one of these spots before we begin to enter the market, so lets see how these playout!
US500, US100, US30 have been trading higher in this descending structure. We have a couple of zones we are look at for sells. However, Asia and new york sessions like to take out liquidity. So we are wanting to see some time of reaction in any of these specific zones before we take any entries. Especially if price continues to trade higher and hunt stops, we dont...
Looking for this Bat to end in profit. Small risk, big reward. About a 12:1. Buying at 61.37 with a 42 pip SL. Still in an uptrend overall and the market bounced off that uptrend line last week, so it's going to continue going up IMO. If it doesn't pullback to my pending order, then I'll have to find another position to enter. Looking to complete at that...
Phenomenal week going long on gold. See you next, 1800. :)