What's up folks, Currently in a buy on gold
Let me explain
These are my confirmations\questions >
Question 1 - Is gold in momentum (bullish or bearish)?
Yes, gold is in bullish Momentum currently
Question 2 - Who is interested (at this time)?
Buyers are interested at this time
Question 3 - Where are their stop losses?
Stop losses would have been right below the highlighted levels (orange line)
Question 4 - Have those stop losses been taken out?
Yes I believe Stop losses have been taken out already
Question 5 - Does the set up make sense to me to pursue?
Yes I believe it makes sense for me to pursue this trade given the information I have
Thus far the trade had given me about a 1:1.91 RRR but it came back to my entry, I believe however it is likely to continue, so I think I will hold it
I have many more confirmations I look for, this is just to simplify it so that I can quickly explain to you the reader
Downvote if you didn't read this post and didn't try to understand
OR
Upvote if you did read this post and did try to understand
P.S I was in a trade on EJ on Friday and that took me out (Minus 10 pips) - this is just for transparency sake
Let me explain
These are my confirmations\questions >
Question 1 - Is gold in momentum (bullish or bearish)?
Yes, gold is in bullish Momentum currently
Question 2 - Who is interested (at this time)?
Buyers are interested at this time
Question 3 - Where are their stop losses?
Stop losses would have been right below the highlighted levels (orange line)
Question 4 - Have those stop losses been taken out?
Yes I believe Stop losses have been taken out already
Question 5 - Does the set up make sense to me to pursue?
Yes I believe it makes sense for me to pursue this trade given the information I have
Thus far the trade had given me about a 1:1.91 RRR but it came back to my entry, I believe however it is likely to continue, so I think I will hold it
I have many more confirmations I look for, this is just to simplify it so that I can quickly explain to you the reader
Downvote if you didn't read this post and didn't try to understand
OR
Upvote if you did read this post and did try to understand
P.S I was in a trade on EJ on Friday and that took me out (Minus 10 pips) - this is just for transparency sake
Trade active
Trade closed: target reached:
Closed at 1:3.01