Hi there,
I believe the gold rally is getting low momentum and its price may drop like stone in water. But as I am a short-term trader I see there in good opportunity to ride last wave heading to a new top. Perhaps I will consider some contracts @ 1345 - 1346 for target @ 1354 and my SL is near 1342. Lets do some calculation:
Est. profit = 1354- ((1345+1346)/2)= 9 points * 10 (ticks) = 90 * 10 (tick worth) = 900 $/contract
Est. loss = ((1345 + 1346)/2) - 1342 = 3 points * 10 (ticks) = 30 * 10 (tick worth) = 300 $/contract
Risk/reward= 1:3
By the way gold mine companies also show same case such as ABX
I believe the gold rally is getting low momentum and its price may drop like stone in water. But as I am a short-term trader I see there in good opportunity to ride last wave heading to a new top. Perhaps I will consider some contracts @ 1345 - 1346 for target @ 1354 and my SL is near 1342. Lets do some calculation:
Est. profit = 1354- ((1345+1346)/2)= 9 points * 10 (ticks) = 90 * 10 (tick worth) = 900 $/contract
Est. loss = ((1345 + 1346)/2) - 1342 = 3 points * 10 (ticks) = 30 * 10 (tick worth) = 300 $/contract
Risk/reward= 1:3
By the way gold mine companies also show same case such as ABX
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.