Gold mcx sell at 85820 sl 86360 Target 85090,How to take trades using Harmonic pattern projection Trade setup is explained below :-
Entry : 1st SL point : 0% is recent top or bottom.
Trailing D: 11.4% is work as trailing SL of buy or sell trade if hit then we have to book profit
.If price goes below 2nd D 21.4% then early traders can make fresh reversals trade after breaking 1st D 11.4% safe traders can reversal trade after breaking 2nd D 21.4%
Targets :
Target T1 : 28.3% ( early trade if entry at 11.4% )
Target T1 : 35.1% to 38.2%
Target T3 : 50.1% to 53.2%
T3: 61.8% to 65.1% is our 3rd Target since this is reversal zone so must book profit if break then take fresh trade again
Target T4 : 76.4% to 79.7%
Next Targets are 100% , 127.2% ,141.4% and final Target 161.8%.
How to take reversal trade :
If price going upside/ downside then then buy or sell levels appear on Chart ( Automatically show when price reach any reversal zone of harmonic projection pattern based .
After showing reversal levels wait for confirmation until 21.4% or 28.3 % level not break if break then exit from current buy / sell trade and take fresh reverse trade buy/ sell .
Trailing SL:
After reach 1st Target trail SL to just above or below cost ( for example we are holding sell trade from 100 1st Target 110 hit then move trailing sl to 104-105 and move SL as price move upside or Downside)
Re- Entry :
For Re-entry in any pull back Point D ( 11.4% ) is used for re-entry then SL recent high or low Point D ( 0% ) .
Target is same as early 21.4% , 28.3 , 35.1 and so on
Blue Line is 1st support/ Resistance
Green line is 2nd support/ resistance
Red line is 3rd Support/ resistance
