As analyzed on the previous analysis, Gold has moved down the Weekly Virgin CPR zone @1848-1846 level. Our next area will be around 1834-1837 level for next probable move. If in case Gold starts to rally up from current levels @1848-1850, our first stop would be around 1910 levels where the next Weekly Virgin CPR has been formed.
I took 2 trades today with the CPI news. :)
1st Trade- En @1856.48, Tp @120 pips (Weekly Virgin CPR zone)
2nd Trade- En @1856.97, Tp@100 pips (Re-entry @ same area after a retracement on 5 mins chart)
COT report has not been published yet for past 2 weeks. Once we get the COT report we can add that as an additional confluence for our trend analysis.
Kindly share your thoughts as comments below.
Happy Trading..!! :)
I took 2 trades today with the CPI news. :)
1st Trade- En @1856.48, Tp @120 pips (Weekly Virgin CPR zone)
2nd Trade- En @1856.97, Tp@100 pips (Re-entry @ same area after a retracement on 5 mins chart)
COT report has not been published yet for past 2 weeks. Once we get the COT report we can add that as an additional confluence for our trend analysis.
Kindly share your thoughts as comments below.
Happy Trading..!! :)
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Trade approaching our downside Virgin CPR.