- Green 9 on sequential indicator shows the end of down trend and the beginning of a correction or uptrend
- that is confirmed by HA candle on daily, which turns green - indicating the end end of down trend and the beginning of a correction or uptrend
- There are good fundamental news on the background that USA and China came to agreement, which might stop devaluation of yaun, which is in turn pushing the GOLD price down
- GOLD broke the major support by capitulation candle, reversed and closed above - which is a sign of buyers at this level
All of above give me a good probability to enter LONG position @1186 with a stop loss below the recent low @1157 with a risk reward 2:3.
Next steps:
- I will move SL to positive as soon as possible.
- Watch the retest of diagonal trend line. Fix the profits and reenter on the correction.
Komen:
Moved Stop Loss into profit > 1190.
Dagangan ditutup: hentian tercapai:
Stop Loss was hit.
+ 0.5% profit
+ 0.5% profit
