Hey guys,
Following my last post on Gold (click on the related idea below if you haven't yet!), where I was bearish, it seems price has been consolidating here and there for a while.
The initial impulse (orange arrow) to the downside was strong, with a drop > 2.5% in one single day. Gold's price pulled back to previous key levels (Daily pivot points) but didn't manage to go higher, thus creating a potential triangle pattern.
The idea is to sell the breakout and target the next untested demand, as shown in my chart, around 1870-1871.50 levels.
I will monitor the position with a stop loss should price come back inside the triangle again.
The R/R ratio for this trade is slightly above 3.
Trade with care.
If you do like my ideas please leave a comment or show some ❤, it's always appreciated.
Best,
Jesse
Following my last post on Gold (click on the related idea below if you haven't yet!), where I was bearish, it seems price has been consolidating here and there for a while.
The initial impulse (orange arrow) to the downside was strong, with a drop > 2.5% in one single day. Gold's price pulled back to previous key levels (Daily pivot points) but didn't manage to go higher, thus creating a potential triangle pattern.
The idea is to sell the breakout and target the next untested demand, as shown in my chart, around 1870-1871.50 levels.
I will monitor the position with a stop loss should price come back inside the triangle again.
The R/R ratio for this trade is slightly above 3.
Trade with care.
If you do like my ideas please leave a comment or show some ❤, it's always appreciated.
Best,
Jesse
İşlem kapandı: hedefe ulaştı
Nice trade
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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.
İlgili yayınlar
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.