Hey everyone this is Nathima,
please check out the update on gold for now there are two scenarios let discuss the first one
First things first gold last night gold pushed a bit harder to the down side and made a move of 120 pips almost and today in Asian session gold retraced the move very well after that gold took a small stop at 2376 which was a good resistance at m30 so a clear range was formed from 2366 to 2376 now there is a resistance at 2376 if gold break and close above this resistance and started to push up in pre London or London we can anticipate a bullish move to the upside
In scenario two, what if price break and close the resistance and then come back in the range so if this happened we will wait because it will be probably a Fake out we will wait for the price to close a strong bearish candle inside the range and if the next m30 started to push down we can anticipate a bearish move to the downside
BULLISH TARGETS:
Target no 1 is 2383
Target no 2 is 2393
BEARISH TARGETS:
Target no 1 is 2366
please check out the update on gold for now there are two scenarios let discuss the first one
First things first gold last night gold pushed a bit harder to the down side and made a move of 120 pips almost and today in Asian session gold retraced the move very well after that gold took a small stop at 2376 which was a good resistance at m30 so a clear range was formed from 2366 to 2376 now there is a resistance at 2376 if gold break and close above this resistance and started to push up in pre London or London we can anticipate a bullish move to the upside
In scenario two, what if price break and close the resistance and then come back in the range so if this happened we will wait because it will be probably a Fake out we will wait for the price to close a strong bearish candle inside the range and if the next m30 started to push down we can anticipate a bearish move to the downside
BULLISH TARGETS:
Target no 1 is 2383
Target no 2 is 2393
BEARISH TARGETS:
Target no 1 is 2366
Comment:
Trade active and running 20 pips
Comment:
I managed to get 50 pips from this buy waiting for gold while it is making support above the range or its coming back in the range then we will decide rather we will take another buy or we will sell in the range
Comment:
Buy trade active
reasons for re-entry are:
price formed a new support a m30 and done a perfect retest of the previous
resistance also the candle formed has exhaustion wick at its bottom so we can anticipate that the buyers are in more power
reasons for re-entry are:
price formed a new support a m30 and done a perfect retest of the previous
resistance also the candle formed has exhaustion wick at its bottom so we can anticipate that the buyers are in more power
Comment:
Trade running 20 pips in profit
Comment:
Trade running 40+ pips perfectly managed
Comment:
TP 1 hit successfully banked almost 60 pips and the trade was managed perfectly even though it was a re entry but i managed to get tp 1
Trade closed: target reached:
hello traders this re entry was managed perfectly and got the tp 2 and banked almost 80+ pips