Gold price dropped insane for almost $90 from 1598 to 1509 last friday and the selling power reached to the peak after price break 1550 support.
The chart gives me a pattern of an extended wave-5 of c. Even I don't know if the price would fall further, I would see if I can catch the ABC opportunity.
1550 trendline obviously become an very important line to confirm my analysis.
Price breaks up to 1550, another correction wave C is expected.
Price drops again when reachs 1550, this bearish is still not finished.
No PLAN, No trading.
Here's my plan.
Long: at 1510 - 1515. SL 1505, tp, 1550.
1550: wait for 2 hours and check the pin bars to decide long or short.
Price breaks 1550 and then fall back again, long. TP 1600
----------------------------
NOTE: please follow with your own risks.
The chart gives me a pattern of an extended wave-5 of c. Even I don't know if the price would fall further, I would see if I can catch the ABC opportunity.
1550 trendline obviously become an very important line to confirm my analysis.
Price breaks up to 1550, another correction wave C is expected.
Price drops again when reachs 1550, this bearish is still not finished.
No PLAN, No trading.
Here's my plan.
Long: at 1510 - 1515. SL 1505, tp, 1550.
1550: wait for 2 hours and check the pin bars to decide long or short.
Price breaks 1550 and then fall back again, long. TP 1600
----------------------------
NOTE: please follow with your own risks.
Transaction en cours:
Long opened at 1535
Commentaire:
add buy at 1525 (fib 76.4%)
Trade fermée manuellement:
I close my position at 1536 due to the quick drop. plan to re-entry around 1510
Transaction en cours:
Trade open. I buy at 1500
Trade fermée: ordre d’arrêt atteint