Possible Sell setup on Monday, on the higher time frames we have LL and LH forming since may 24th nicely down and currently has hit TP2 on the daily Fib. TP3 has a good probality of hitting if the LH is respected.
Cleared 72 pips on the trade before this which i didint post to the group but it retraced a bit. here is the play.
Hoped in on a sell for gold. Entry: 1672.50 SL: 1680.70 TP1: 1654
Part 2 of the last trade just wanted to show you the lower time frame!
Entry: 1.01279 SL: 1.03886 --- Huge Stop Loss of 260.7 Pips - Trade only IF you know how to use Risk Management -------------------------------------------------------------------------------------------------------- Profit Target 1 >> 0.98785 Profit Target 2 >> 0.97458 Profit Target 3 >> 0.95716
First time trading gold in a year I am posting this late but I want it to be more informational than a signal I want you to see the level its rejecting it has rejected this level several times in the higher time frame and goes into a bullish trend every time, eventually it could break but as of now I would bet on that it will hold at least around that strong...
Entry: 105.971 SL: 105.564 tp1: 106.803 tp2: 107.210 HL made, as long as trade doesn't break 105.291 trade will be valid
2nd position Entry: 103.628 SL: 104.014 Second entry for the Head and shoulders
Waiting to see how the market will react in that price zone
Entry: 104.643 SL: 104.515 T: 105.653 This is the first entry lets see if it retraces further down.
Entry: 103.626 SL: 104.783 TP: 101.428 Not the best entry but since my risk is only 1% of the account I am more than willing to take the trade I lost the last 2 positions lets see if my third makes it.
Entry: 102.592 SL: 102.951 TP1: 101.417 TP2: 100.774 TP3: 102.951 Risk 1% or less
Entry: 101.888 SL: 102.111 TP: 100.746 I see it melting since it already broke Daily HL and now its reaching the second daily HL which is the main initial BULL move that we traded a few weeks ago. it did a sloppy retest but I am feeling confident on the sell. Light R/R use 1% or less for risk. its a 1 to 5 RR
I didn't send out the last trade, but I am currently looking at a break and retest for a sell. I will keep you posted.
Entry - 105.080 SL - 105.419 TP - 103.783 Strong Sell SL is 33.9 pips make sure Risk to reward (RR) Is only 1% percent risk Fib entry 38.2% If the market closes above 105.885 the trade is no longer valid due the LH being broken
Support now resistance setup off the 618 fib with market creating LL - LH's as well Higher time frame move TP hasn't been hit.
34 pip risk Entry: 162.967 SL: 163.351 TP: 161.607 trading this trade based off the downtrend break of structure and fib golden zone only this is a risky trade but my Risk is low due to the lot size.