GOLD 1:3 RISK REWARD ACHIEVED
I am observing gold for quite a while now. Long term I am expecting a big bearish correction before a bigger bullish move. What I've traded recently is this setup on the 15m chart. I took a short position with 1:3 risk reward, based on the following things:
1. On the 15m we had a bullish move to the highs followed by a bearish engulfing and then continuation of bearish move (200 pips) which was indication that a lot of sell positions were placed by the institutions just above the resistance.
2. We had a trendline which was broken and retested on a smaller time frame (5m) so this was additional confirmation.
3. MACD and STOCH(RSI) Both indicated sells.
4.Price crossed the EMA
1. On the 15m we had a bullish move to the highs followed by a bearish engulfing and then continuation of bearish move (200 pips) which was indication that a lot of sell positions were placed by the institutions just above the resistance.
2. We had a trendline which was broken and retested on a smaller time frame (5m) so this was additional confirmation.
3. MACD and STOCH(RSI) Both indicated sells.
4.Price crossed the EMA
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.