Long on GOLD 12-26-21
Gold is currently at a Resistance Zone but showing promise of breaking it.
I have placed the following pending order for if price does break above the resistance zone.
PAIR = XAU/USD
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1812.00
STOP LOSS = 1798.31 - 1369 TICKS / $13 LOSS
TAKE PROFIT = 1870.70 - 5870 TICKS / $58 GAIN
If price does not break the zone, I will wait for a break of trendline around $1803 before getting in for a sell to $1786 for a $17 profit.
Price has also rejected the 38.2 Fibonacci level and 1hr uptrend line.
I have placed the following pending order for if price does break above the resistance zone.
PAIR = XAU/USD
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1812.00
STOP LOSS = 1798.31 - 1369 TICKS / $13 LOSS
TAKE PROFIT = 1870.70 - 5870 TICKS / $58 GAIN
If price does not break the zone, I will wait for a break of trendline around $1803 before getting in for a sell to $1786 for a $17 profit.
Price has also rejected the 38.2 Fibonacci level and 1hr uptrend line.
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