Another Gold Trade on the 4 Hour Chart Presents Itself
A follow up on the gold trade which concluded when it hit 1207. Now, another trade presents itself. Looking at targets of 1220, 1230 and 1260 for this trade.
הערה
Gold hitting trendline resistance in green. Taking some profit here is not a bad idea. Gold poised to hit 1218-1220.הערה
Gold hit 1218 and has retreated. Trade is closed for now. Fresh longs on successful test of 1200. Looking also for gold to bounce off the orange trend line.הערה
Gold has now retraced to the support trend line in orange. Long here with a small position is possible. Stop at 1197. My ideal trade setup is around 1192-1195 on a bounce off trend line support in blue.הערה
Gold hit the orange trendline resistance and fell back like clockwork. A push above the orange trendline will see gold hitting 1230. For now, I would like to see gold taking out 1220 in the first few trading days of the next week. Stop loss for existing long positions set at 1199.הערה
Gold set to take 1220 out. 1226-1227 next target as long as it stays above orange trend line.הערה
Gold hit 1219 and retreated. As long as blue trend line support holds, look for gold to advance to 1226 - 1227. Adding to gold longs and stop at 1208.
כתב ויתור
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