Gold 100 pips Buy Breakdown 1890-1900
Gold had formed a clear support during London Session on the 30m and 1h timeframes. We had strong bullish momentum so my bias was bullish in the short term. I then switched down to the 15m timeframe to look for a good entry to minimise drawdown.
When a bullish 15m candle closed starting from support, I waited for the next candle to form bullish and my final confirmation was that it broke the high of the previous bullish 15m candle. Then I entered the trade.
My stops were below the 15m wick rejections and my two targets were 1897 and 1900.
Both targets were smashed within a few hours with very minimal drawdown.
If any candle from 15m upwards closed below support, I would have closed my positions as it was invalidate the setup.
When a bullish 15m candle closed starting from support, I waited for the next candle to form bullish and my final confirmation was that it broke the high of the previous bullish 15m candle. Then I entered the trade.
My stops were below the 15m wick rejections and my two targets were 1897 and 1900.
Both targets were smashed within a few hours with very minimal drawdown.
If any candle from 15m upwards closed below support, I would have closed my positions as it was invalidate the setup.
Note
Gold plummeted from my target so my target was in the perfect zone
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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.