Gold - Not as Bearish as it Appears?
(Trade this on 1Broker in my signature link for no-fees BTC-settled markets with social trading)
Best part of this trade? Just counter-trade me. I'm from crypto and have no idea what I'm doing (no sarcasm).
This gold sell off so far is low volume and appears to me to have a high chance to simply be trapping weak hands and bad shorts underneath weekly close.
MACD is as bullish divergence as its been since May 16 on the hourly.
Monthly, weekly, 3 day, and daily charts all support a case for continued upward movement, although 12H and under really do not look amazing, you do see bullish divergences starting to manifest on the hourly.
2.11 RR on a higher-probability scalp trade is fine with my personal risk tolerance.
Target around May close at $1297. Stop at $1288 although ostensibly stop is better below 1280 in case they run it deeper and form a higher lows formation for a bounce.
Alternative variation is bullish continuation/squeeze bounce back to $1310~
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Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-t...o-the-united-nations
Best part of this trade? Just counter-trade me. I'm from crypto and have no idea what I'm doing (no sarcasm).
This gold sell off so far is low volume and appears to me to have a high chance to simply be trapping weak hands and bad shorts underneath weekly close.
MACD is as bullish divergence as its been since May 16 on the hourly.
Monthly, weekly, 3 day, and daily charts all support a case for continued upward movement, although 12H and under really do not look amazing, you do see bullish divergences starting to manifest on the hourly.
2.11 RR on a higher-probability scalp trade is fine with my personal risk tolerance.
Target around May close at $1297. Stop at $1288 although ostensibly stop is better below 1280 in case they run it deeper and form a higher lows formation for a bounce.
Alternative variation is bullish continuation/squeeze bounce back to $1310~
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-t...o-the-united-nations
Comment:
This call was a lot sicker until it bounced literally as I was proofreading the post :(
Comment:
Unlike the Oil attempt this one is actually at least trading in the direction of the trend.
Came very close to target but is showing there's still further grounds for upward movement on the hourly.
Will close out somewhere between here and if it fails a run over 1300 again.
Unlike the Oil attempt this one is actually at least trading in the direction of the trend.
Came very close to target but is showing there's still further grounds for upward movement on the hourly.
Will close out somewhere between here and if it fails a run over 1300 again.
Trade closed: target reached:
Closed this out around 1293 when I saw it was looking like full retrace. Happy with gains.
Looking at this on the 1 day/3 day it looks like further downward movement would be imminent, unless this is an epic fakeout.
Looking for long entries in green box contingent on signs of life.
Looking at this on the 1 day/3 day it looks like further downward movement would be imminent, unless this is an epic fakeout.
Looking for long entries in green box contingent on signs of life.
Comment:
Longed this around 1292.20 again for the same reason as the original trade. I like that it's holding. I like less that it hasn't bounced yet, but I'll take the RR for my personal style.