Since gold likes to fill all the gaps before breaking out. That's what happened for the previous breakouts too. White Circle on the Charts, would be the gaps that I'm talking about.
Gap Fill Hypothesis: 1454 ---> 1449.3 ---> 1435.2 ---> 1423 ---> 1418.9 ---> 1416.7 ---> 1460; Look on 5 minutes chart. Couldn't post a 5 min chart on tradingview. Gold gapped filled 1454 today = making a double top at 1460 resistance.
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{ Short Entry }
Entry: Sunday's Opening, Short ( 1452.5 )
Stop Loss: 1460, Risk: $750
PT: 1416.7, Reward: 3600$ | 1:5 |
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{ Long Entry }
Entry: Gap Fill, Long ( 1416.7 )
Stop Loss: 1393, Risk: $2370
PT: 1460-1480, Reward: $4330-6330 | 1:2 or 1:3 |
Overall Trend is Bullish since it's above 1400.
Gap Fill Hypothesis: 1454 ---> 1449.3 ---> 1435.2 ---> 1423 ---> 1418.9 ---> 1416.7 ---> 1460; Look on 5 minutes chart. Couldn't post a 5 min chart on tradingview. Gold gapped filled 1454 today = making a double top at 1460 resistance.
~
{ Short Entry }
Entry: Sunday's Opening, Short ( 1452.5 )
Stop Loss: 1460, Risk: $750
PT: 1416.7, Reward: 3600$ | 1:5 |
~
{ Long Entry }
Entry: Gap Fill, Long ( 1416.7 )
Stop Loss: 1393, Risk: $2370
PT: 1460-1480, Reward: $4330-6330 | 1:2 or 1:3 |
Overall Trend is Bullish since it's above 1400.
