GOLD ----- Head & Shoulders pullback
Updated
Buying in the pullback following the Head & Shoulders depicted on Gold 1H chart above.
Incoming Stochastic buy signal near the support level of 1767 and also oversold as per Bollinger Bands.
The Head & Shoulders consist of 70 bars in total, and is acceptable to be considered a standard pattern.
Entry @1767. SL @1757, TP @1790
Incoming Stochastic buy signal near the support level of 1767 and also oversold as per Bollinger Bands.
The Head & Shoulders consist of 70 bars in total, and is acceptable to be considered a standard pattern.
Entry @1767. SL @1757, TP @1790
Trade closed manually
Beware of the Shooting Star on Sep 22, daily chart. You can read my previous explanation of the Shooting Star in the example of AMD in my profile that turned so accurate. Basically, this idea was quite nice, but there was too little time for the execution of the forecast yesterday. Now 2/3 of the position is closed manually @1765
Trade closed manually
Position closed manually @1765.03, total loss of 1.97 points. Risk control is of great importance when trade on margin.
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.