I'm publishing this after the entry has already been triggered but it would be in the hopes of a re-entry if it drops back to $5.32 after hitting the mid-point target and you sell half your 4 lots.
The chart shown is on the 1D scale that I used to enter the larger chart that had triggered at $4.93.
It is entirely possible that this is the gold market and mining stocks moment where they don't look back anymore, but any weakness can be used to get long again.
The chart shown is on the 1D scale that I used to enter the larger chart that had triggered at $4.93.
It is entirely possible that this is the gold market and mining stocks moment where they don't look back anymore, but any weakness can be used to get long again.
Comment:
If you're a believer that gold is about to go on a tear, then you can use the smaller 1h chart that we entered on as your basis for the stop-loss, but NOT sell half at the smaller chart mid-point. Instead simply use the smaller chart as the spring board for a tighter stop, therefore limiting your risk as you aim for the larger chart's mid-point at $6.86
Trade closed: stop reached