Hi All:
Current levels spot gold 459.80 USD/oz
It seems that Gold can offer an interesting r/r opportunity. Based on an a completion of an anti-trend swing (refer to my thread on Eur/Usd for explanation - under forex) I see an interesting opportunity in going long Gold.
The probability of the win/loss scenario is about 65% and the risk/return scenario is 1:3.33.
If the entry level is the current trading level than the sell stop-loss would be fixed at 455.70 and the profit taking level would be at 473.50.
I will update this thread as and when.
Regards
Nautilus
Current levels spot gold 459.80 USD/oz
It seems that Gold can offer an interesting r/r opportunity. Based on an a completion of an anti-trend swing (refer to my thread on Eur/Usd for explanation - under forex) I see an interesting opportunity in going long Gold.
The probability of the win/loss scenario is about 65% and the risk/return scenario is 1:3.33.
If the entry level is the current trading level than the sell stop-loss would be fixed at 455.70 and the profit taking level would be at 473.50.
I will update this thread as and when.
Regards
Nautilus