I am currently short on GOLD but I am already planning my long setup. My first long entry will be around 1237-38. There is a Gartley Pattern and the weekly basis bollinger bands area. The reason why my SL is so low is because I am also ready to handle my long if the pattern isnt valid until the 1209 area. The reason why I will be holding till that low is because I can see an AB=CD pattern on higher timeframe that would complete at 1212 and it would also be the 61.8% fibs from 1122 to 1356.
The key is not to be rich overnight but to always win. The key to achieve this, low lots size so you can handle negative, but like I said from 1237-38 I am expecting a retracement to 1290-1300.
The key is not to be rich overnight but to always win. The key to achieve this, low lots size so you can handle negative, but like I said from 1237-38 I am expecting a retracement to 1290-1300.