OANDA:XAUUSD   Gold Spot / U.S. Dollar
after an impulsive push to the upside price formed a corrective triangle and currently holding at 1878.196. Im expecting the price to retrace 50% creating a false breakout down than make another impulsive push to the upside. For a more conservative entry but with the risk of missing the entry , I would wait for the price to retrace to 50% of the initial move than break the top of the triangle and for a candle close above the hull MA placing SL at 1845.556 and TP at 1909.770 with a 1.55 RR.
Trade closed: target reached: TARGET 1 REACHED, TAKEN OUT RIGHT AFTER THAT AS PRICE MOVED BACK DOWN. GOOD START WITH +1.09 RR

Comments

Gold is going up atleast 1909 today
+1 Reply
DiegoRomano1985 LeftyTheTrader
@LeftyTheTrader, good call
+1 Reply
Stimulus deal done, gold to the moon.
+1 Reply
That bullish flag though 🙏🏾
+1 Reply
DiegoRomano1985 TRADESBYZION
@TRADESBYZION, what's your opinion, usually I would set e pending order and wait for the price to retrace at least 50% with SL at 78% but with that flag going on there's a chance to miss that move
+2 Reply
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