Gold continues yesterday's thinking: test 2720
Updated
Gold continues yesterday's thinking: test 2720
According to the mirror trading principle, the current range of gold is: 2720-2660
As shown in the figure:
Today's trend is still dominated by the strong Asian session
We have analyzed yesterday: the main force of the Asian session started buying from around 2610 and ended around 2710, so we can conclude that: (2610+2710)/2=2660
Around 2660 is the main average price of this wave of upward trend. Then the trend will be reversed only if it falls below 2660.
So we set the final stop loss of this wave of growth to: 2655-2660 range.
The corresponding long strategy is obvious:
Buy: 2710
2705
2695
2685
2675
-------------------
SL: 2656
TP1: 2750
TP2: 2780
This requires us to reasonably control our positions
Look for the lowest possible position to go long
This is the safest way to trade at the moment
And calculate your own financial tolerance range
According to the mirror trading principle, the current range of gold is: 2720-2660
As shown in the figure:
Today's trend is still dominated by the strong Asian session
We have analyzed yesterday: the main force of the Asian session started buying from around 2610 and ended around 2710, so we can conclude that: (2610+2710)/2=2660
Around 2660 is the main average price of this wave of upward trend. Then the trend will be reversed only if it falls below 2660.
So we set the final stop loss of this wave of growth to: 2655-2660 range.
The corresponding long strategy is obvious:
Buy: 2710
2705
2695
2685
2675
-------------------
SL: 2656
TP1: 2750
TP2: 2780
This requires us to reasonably control our positions
Look for the lowest possible position to go long
This is the safest way to trade at the moment
And calculate your own financial tolerance range
Trade active
Trade closed: target reached
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.