Initiating long in gold cmp is approx 1326.4 ---the targets will be above 10334 and higher , plz read the prev post/idea on xau/usd and the points mentioned below
the trade setup is based on higher ti,eframe charts and thus is positional trade
it carries substantial risk
in this trade we are entering early based on certain triggers
The earlier mentioned resistances of 1334 -1340 are still present on upside ,
book profit at those levels
a good stoploss will be below 1318 which means high risk
a decent stoploss will be below 1322
the prices have been volatile recently and thus stoplosses are not ezee to define ---so
ONLY trade with small quantity -----do your risk ananysis properly before initiating trade ....look at risk not profit potential before entering trade , the long trade can also be initiated in other gold contracts the charts are favorable-- personally i will be using a pyramid type setup to enter further positions which may not be suitable for u
the trade setup is based on higher ti,eframe charts and thus is positional trade
it carries substantial risk
in this trade we are entering early based on certain triggers
The earlier mentioned resistances of 1334 -1340 are still present on upside ,
book profit at those levels
a good stoploss will be below 1318 which means high risk
a decent stoploss will be below 1322
the prices have been volatile recently and thus stoplosses are not ezee to define ---so
ONLY trade with small quantity -----do your risk ananysis properly before initiating trade ....look at risk not profit potential before entering trade , the long trade can also be initiated in other gold contracts the charts are favorable-- personally i will be using a pyramid type setup to enter further positions which may not be suitable for u