Monday, March 19, 2018

Gold - Analysis for a potential short term trade

DISCLAIMER: The information presented here is for informational purposes only. These are not trade recommendations. Please follow your own trading plan. Trading is extremely risky and you may experience substantial losses.

Interesting flag on the M15 for gold.  Most recent move on the H1 was a higher high BUT this occurred in a wider down move.

Potential to trade the M15 flag on a breakout and target the $1321 area that was previous resistance.  However, have to keep an eye out to see if the risk reward would make it worthwhile.  For this type of movement I'm wanting 1.5 to 1 R/R or more.

Note:  G20 meetings and big US Fed announcements this week.  I typically sit these events out.

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