AU- Long,
Fib retracement to the .618
Possible at market entry or more conservative Double Bottom entry
Stop Loss 5-10 pips below .618 or 8pips below most recent low.
target 1 at Fib 1.618
target 2 at Fib 2.272
Lets see how it plays out.
P.S. I mainly trade the FIB .50 retracement to retest the high. However, if entered at fib .618 retracement then TP-1 will be at the fib 1.618 ext of the first wave of the Trend.
Possible at market entry or more conservative Double Bottom entry
Stop Loss 5-10 pips below .618 or 8pips below most recent low.
target 1 at Fib 1.618
target 2 at Fib 2.272
Lets see how it plays out.
P.S. I mainly trade the FIB .50 retracement to retest the high. However, if entered at fib .618 retracement then TP-1 will be at the fib 1.618 ext of the first wave of the Trend.
Note
Target 1 hit.Roll stop to break even or trail stops to target 2 and beyond.
Trade closed: target reached
Target 2 reached and beyond.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.