Charlieab94
Long

Gold Long Trade - Counter Trend Play

OANDA:XAUUSD   Gold Spot / U.S. Dollar
I am looking to go long gold back up to the $1482 support/resistance level.

Price has made a higher low this morning on the lower timeframe so I am using this as a sign of momentum slowing. This set up has good reward:risk of over 5.7:1.

The low risk entry would be to wait for the short term bearish trendline to be broken first.

Stop loss is below the lows at $1447
Nov 12
Trade active: Entered on the close of the bullish wick 15m candle this morning.
Nov 13
Comment: Bearish trendline broken :)
Nov 18
Comment: Not far from TP now
Nov 21
Trade closed: target reached
If you are interested in learning how I trade and analyse the markets, please visit my blog site. There is lots of free trading education and technical analysis for you. https://diaryofafinancekid.com/blog/
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