Micro Gold Futures - Long 4H, Previous Price Action Mirroring
Trade Setup: Continuation to a range fill
Entry Setup: Previous low breakout OR flip depends on how steep the bottom wick is of next 1H is.
Entry Price: not filled yet
SL: 2728 (bellow previous 4H low)
TP: 2746 (next major support level, there is an option to take profit on daily flip 2748.9)
SL TO B/E: Moving SL to breakeven when price will tap 2744 as it is a minor support.
I think that there is a high chance that price will tap 2746 level before making any other move:
1.We are mirroring the move from 22 October.
2.Daily candle does not have top wick.
3.Even if price continue down bellow 2729 level, i think we need to tap 2746 as a liquidity grab before heading further down.
Did not entered yet, Waiting for next 1H to provide a entry setup.
Entry Setup: Previous low breakout OR flip depends on how steep the bottom wick is of next 1H is.
Entry Price: not filled yet
SL: 2728 (bellow previous 4H low)
TP: 2746 (next major support level, there is an option to take profit on daily flip 2748.9)
SL TO B/E: Moving SL to breakeven when price will tap 2744 as it is a minor support.
I think that there is a high chance that price will tap 2746 level before making any other move:
1.We are mirroring the move from 22 October.
2.Daily candle does not have top wick.
3.Even if price continue down bellow 2729 level, i think we need to tap 2746 as a liquidity grab before heading further down.
Did not entered yet, Waiting for next 1H to provide a entry setup.
Transaction en cours
Entered on 1H flip after created a bottom wick.
Entry price: 2736.8
Note
Update:
TP will be: 2744.5
Moving SL TO B/E will be after breaking previous 1H Highs: 2742.4
Trade fermée manuellement
Closed full at 2741.5 as i think next 4H will create bottom wick before heading up, and this will create another opportunity to get into a long position, and would have get this current position into Draw Down.
50Pips Secured !
Note
to the one of you who did not closed, we hit the first minor resistance on 2744.
12pips to original TP level !
Wasn`t in DD for even 1Second
Note
To the ones who did not entered yet, you can use the advantage of the current 1H that creating TOP WICK on the current 4H.
Then take the next 4H Entry after a flip (depends on how steep the bottom wick will be).
Note
a bit more aggressive then expected but here we are on the daily flip.
Good Game.
see you all on the next trade next week!
Trade fermée: cible de profit atteinte
setup confirmed !
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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.