GOLD IS LOSING STEAMMM - Potential pullback incoming! Watch out!
Thick pink line - High set in August of 2013
Weekly range - Refer to price oscillating within the range with no clear close above or below the range
Last week range - Create another range using last week high and low
Thick blue line - 3rd Quarter Open (July's Open)
Liquidity pool - Refer to areas of interest, as i believe most people put their stops behind these key swing points
H4 cluster resistance area - A H4 close above this area will deem my trade setup invalid.
Take profit 1 - Pink line ( A liquidity pool )
Take profit 2 - Q3 Open
Close position - Bottom of weekly range
Weekly range - Refer to price oscillating within the range with no clear close above or below the range
Last week range - Create another range using last week high and low
Thick blue line - 3rd Quarter Open (July's Open)
Liquidity pool - Refer to areas of interest, as i believe most people put their stops behind these key swing points
H4 cluster resistance area - A H4 close above this area will deem my trade setup invalid.
Take profit 1 - Pink line ( A liquidity pool )
Take profit 2 - Q3 Open
Close position - Bottom of weekly range