GOLD now has closed bullish yesterday and performed a range 2 breakout. Therefore my bias has changed to buys. Price did not break the daily lows yesterday which could indicate a lack of volume to push down. Market structure on the weekly is still extremely bearish, thus this is a high risk trade. Looking to fill the next range pushing up as there is clean traffic on the daily looking left. SL placement is the current daily lows and if price were to break the lows before breaking the high the trade is invalid and we won't be in positions a spout pending order is the current high. TP is at the next R which is 1810 (100 pips)
Comment:
Price pushed us up into profit +70 pips therefore i am going to go breakeven and make this a risk free trade!
Trade closed: stop reached:
Was a breakeven trade. Should have managed my position better as i was 10 pips away from TP but the greed got to me. It is what it is. Will improve on this aspect in the next trade.