As stated in my previous idea about gold that we were stuck in a consolidation box (Related Ideas). The price broke low from the consolidation box and the first lower Darvas box target was achieved today. Now that the we have confirmation of bearish trend resuming back, we are heading lower back to where the bullish local rally started. We have almost retraced the second rally fully and now we are possibly heading back to the lower targets below 1645. Follow the red Darvas Boxes closely, as each box breaks low we have the lower of the consecutive next box as a target until the bullish impulse is fully retraced with success.
Big boys are pulling out, ride the wave with them!
Stop Loss guideline:
The upper of the red box the price is currently at. (keep the tolerance of 4-5 point up, you make take further guidance from consecutive next fibo retracement levels)
Happy trading, Ensure proper risk management and happier profits :-)
Big boys are pulling out, ride the wave with them!
Stop Loss guideline:
The upper of the red box the price is currently at. (keep the tolerance of 4-5 point up, you make take further guidance from consecutive next fibo retracement levels)
Happy trading, Ensure proper risk management and happier profits :-)
Trade active
Comment:
darvas box 3 target reached :-)
Comment:
Now we need at least a H4 closing below 1642 to expect recent low at 1614 again
Trade closed: target reached:
The target has almost reached so it is advised to close the trades and look for new opportunities as they arise :-) hope you guys enjoyed this idea, stay tuned for more :-)
