DRD - Hammer on Daily (Possible long)
On Daily chart a Hammer formed on Friday Nov 20th.
TRADE OBSERVATION (Short term - warning it is countertrend)
Firstly - Monday (Nov 23rd) price must trade below Friday's close < 1664
Secondly - After trading below 1664, price must trade through/above 1664 before long entry is initiated.
Entry only valid once 1 & 2 materialized.
Entry > 1665
Stop < 1611 i.e Friday's low (preferably < 1600 to allow wiggle room)
1st Target around 1750 - monitor price movement before deciding to exit or hold
2nd Target around 1850 - monitor price
MORE RISKY TRADE
Buy Monday's open with stop < 1600
GOLD PRICE
Currently the Gold price is moving sideways & must remain > 1845 or gold producers' share prices will move lower
If Gold gets a bounce upwards, the DRD trade could convert into a longer term trade
TRADE OBSERVATION (Short term - warning it is countertrend)
Firstly - Monday (Nov 23rd) price must trade below Friday's close < 1664
Secondly - After trading below 1664, price must trade through/above 1664 before long entry is initiated.
Entry only valid once 1 & 2 materialized.
Entry > 1665
Stop < 1611 i.e Friday's low (preferably < 1600 to allow wiggle room)
1st Target around 1750 - monitor price movement before deciding to exit or hold
2nd Target around 1850 - monitor price
MORE RISKY TRADE
Buy Monday's open with stop < 1600
GOLD PRICE
Currently the Gold price is moving sideways & must remain > 1845 or gold producers' share prices will move lower
If Gold gets a bounce upwards, the DRD trade could convert into a longer term trade
Ordre annulé
Today's price opened above Friday's close and trade was not initiated
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.