Here you have the HANGING MAN I was talking about in previous idea (see the link below) Clear sign of trend reversal and historically classic movement for GOLD. Wait for CONFIRMATION (big red bearish canle) in order to jump in as the price may go all the way down to the 23,60% Fibonacci level at 1251-1257.
GOOD TRADING TO ALL OF YOU
Komen
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Even though the price is already going in my direction and I could have entered the trade at 1321-1322 easily, I still didn't open any position even if there is a very relevant confirmation of a reversal (hanging man+doji+beatish daily candle forming)...... I'm prudent and patient enough to wait for the price to break out important level which I believe is in the 1314-1316 area; once it breaks that, I will enter the trade targetng 1305-1306 first with relatevely high leverage and a small SL just above 1316. Im open to suggestions :)
Dagangan aktif
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SL 1320 TP1 1310 TP2 1307
Dagangan ditutup: sasaran tercapai
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1st Tp at 1310 reached, second Tp at 1306
Dagangan ditutup secara manual
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didnt feel comfortable with price action, closed at 1309.50 my second TP :)
This idea is too crazy, this trend is unlikely, is not optimistic
simonepepita91
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@Macrown, alright, may you be so kind to document your statement somehow ?
I'm open to any debate as long as they are documented or at least explained in details..... :)
yplim2300
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not so low, sell is killing yourself.
simonepepita91
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@yplim2300, mmm I'm not sure if I got what you mean....
nivelij01
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@simonepepita91, She's basically saying that it's not the right time to short sell. Check out all her comment and you'll find out that she is having a long bias for this instrument.
simonepepita91
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@nivelij01, ohhh ok...the thing is that Im very bullish long term but short term instead, I think there will be a pull back before the uptrend explode and Im wait for confirmation in order to jump in, ready to change my strategy if something goes wrong anyway :)
nivelij01
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@simonepepita91, I do agree with you personally. It is way to extended to the upside for Gold to have a significant retracement. But I can see the bull is getting exhausted and short term wise, I'm with you :)
simonepepita91
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@nivelij01, EXACTLY....I'll wait for confirmation of a nice big red candle in D1 chart to jump in ;) just still working on TP and SL....any suggestion nivelij01 ???
nivelij01
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@simonepepita91, I have opened short position for this pair. However, my TP is somewhere between 1300 level. I'm not really comfortable to have a TP even lower then that, as 1300 is around 38% retracement. I placed the SL at 1327. I opened the position at 1317. But then again, this is just my 2c. It can even go even lower then 1300. For me, I prefer to have a 1:1 R:R trade, makes my life much more easier :)
simonepepita91
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@nivelij01, I completely understand your point even though I m even more prudent as Im waiting today daily candle to close in red for confirmation before opening short; I might enter tomorrow morning with high leverage targeting 1300-1305 too....let's see :)