It seems sellers have still fallen for it.
Good Morning folks, just woke up to see gold has again crashed through the recent high
My buy position is still very much alive and well.
____________________________________________________________________
The Stats
Here are the stats so far:
-Ultimate Risk Reward - 1:5.53
-Floating Risk Reward - 1:5.24
-Secured Risk Reward - 1:4.26
My stop loss was moved as I woke up even further into profit (2110.20) as I would have explained yesterday (only if price can breach the high would I be interested in moving my stop loss further into profit)
____________________________________________________________________
The Trail
Explanation of the trailing stop:
So you see how price broke, retested and continued after this high that price was struggling to break before - that's my que to move my stop further up to the next security point
I will keep doing this indefinitely until price decides to come back against me
___________________________________________________________________
The Details
It appears that gold is still interested in climbing up to this point but it seems like we have a liquidity\momentum issue
The reason I say this is because it has slowed down significantly which suggests that the liquidity it would have had and was using before is on its last legs
I wouldn't be surprised if price comes back down a bit from here before attempting to push further
This being the case however I still wouldn't advise any sells to anyone because you'd be attempting to sell against way too much bull momentum.
____________________________________________________________________
My Recommendation
I think the best course of action right now is to sit and observe, especially if you spent the last few days trying to sell > Sit and watch why price would have bought and try to learn what not to do next time
____________________________________________________________________
The Conclusion
At this point, where my stop loss is in profit > if it does come back to take me out in profit I'd be fully content with this trade as it would have done what I wanted and more
The trade moved a massive 758 pips from my entry - amazing
It's safe to say that I've now made peace with the trade and whatever it does from this point onward doesn't matter to me
Downvote\don't boost if you didn't read this post and didn't try to understand
OR
Upvote\boost if you did read this post and did try to understand
Godspeed to all traders - P.s, Please don't listen to anyone who says sell from here - the amount of times you would have lost trying to sell at the "high" can never justify (possibly) winning just one trade
And I say Possibly very seriously - it still doesn't have to sell
Good Morning folks, just woke up to see gold has again crashed through the recent high
My buy position is still very much alive and well.
____________________________________________________________________
The Stats
Here are the stats so far:
-Ultimate Risk Reward - 1:5.53
-Floating Risk Reward - 1:5.24
-Secured Risk Reward - 1:4.26
My stop loss was moved as I woke up even further into profit (2110.20) as I would have explained yesterday (only if price can breach the high would I be interested in moving my stop loss further into profit)
____________________________________________________________________
The Trail
Explanation of the trailing stop:
I will keep doing this indefinitely until price decides to come back against me
___________________________________________________________________
The Details
It appears that gold is still interested in climbing up to this point but it seems like we have a liquidity\momentum issue
The reason I say this is because it has slowed down significantly which suggests that the liquidity it would have had and was using before is on its last legs
I wouldn't be surprised if price comes back down a bit from here before attempting to push further
This being the case however I still wouldn't advise any sells to anyone because you'd be attempting to sell against way too much bull momentum.
____________________________________________________________________
My Recommendation
I think the best course of action right now is to sit and observe, especially if you spent the last few days trying to sell > Sit and watch why price would have bought and try to learn what not to do next time
____________________________________________________________________
The Conclusion
At this point, where my stop loss is in profit > if it does come back to take me out in profit I'd be fully content with this trade as it would have done what I wanted and more
The trade moved a massive 758 pips from my entry - amazing
It's safe to say that I've now made peace with the trade and whatever it does from this point onward doesn't matter to me
Downvote\don't boost if you didn't read this post and didn't try to understand
OR
Upvote\boost if you did read this post and did try to understand
Godspeed to all traders - P.s, Please don't listen to anyone who says sell from here - the amount of times you would have lost trying to sell at the "high" can never justify (possibly) winning just one trade
And I say Possibly very seriously - it still doesn't have to sell
Trade closed: target reached:
Closed in profit at 775 pips or 1:567 Risk Reward
