Looking at the weeks support level that has been created we are looking for a further push back up in the London open and NY open.
Very small stop loss in case this level is broken, small target of 60 pips,
Break of 122.000 and ranging area on 15 min chart.
Entry with Sl at previous 15 min break candle body.
look for Tp 1 close % of trade and move sl to entry (+30 pips) prior to the heavy area of traffic to the left side of screen.
allow runner to attempt to break to TP2 / 3
Have a current sell bias on gold, selling out of range boxes to next support level (red line)
have been using this way of marking out gold for the last 2 years.
Using previous break candles top of body as my SL and aiming for previous sup / res as target.
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Looking for further downward momentum today, nice break of range and signs of further momentum.
GBP is in poor shape currently and on higher time frames we have no reason to believe this is near the end of the new lows.
I have a full bullish bias on Gold currently no confirmed direction change at this current stage. I am not placing this trade yet but this is an example of a good set up using this method that may be valid in the coming days. Also this is how I plan my days / weeks ahead.
no indicators just look at what you can see on the screen and understand how your opponent...
As discussed live on the stream we called this gold move after awaiting a support creation.
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