Setup: Bounce then Flag break
Catalyst (If any): Quad 3 (Gold/Energy in favour again)
Risk: $30
Reason for SL location: Below Flag
Profit targets: T1 = $210 below key Volume profile and 3 X R. T2 = $2.85 next major resistance
Comments: Price and Volume picking up after dropping to near covid lows! Not sure why it had sold down so hard but a government infrastructure stimulus beneficiary with operations in energy and gold seems like a pretty good place to park your money! Recent bounce then consolidation then break is a nice setup too!
Catalyst (If any): Quad 3 (Gold/Energy in favour again)
Risk: $30
Reason for SL location: Below Flag
Profit targets: T1 = $210 below key Volume profile and 3 X R. T2 = $2.85 next major resistance
Comments: Price and Volume picking up after dropping to near covid lows! Not sure why it had sold down so hard but a government infrastructure stimulus beneficiary with operations in energy and gold seems like a pretty good place to park your money! Recent bounce then consolidation then break is a nice setup too!