#17 – Gold/USD (Update!)

I thought u say gold not good and all that bullcrap… why now say buy? because bruce lee say be like water.

Previously on #08 I’ve shared that a purchase on Gold was a bearish one and now times have change with price behaviour acting in a favourable way with a high RR for me 🙂

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Weekly Chart, market has failed to break previous bullish trend high and have broke bearish channel. This indication was what led me to enter into this pair twice. As you can also see, bullish momentum closed above the previous bullish close, signifying a bullish momentum.

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I’ve entered using the Daily Chart with a 1:6.17 RR. How did I execute this move? – it was rather simple and straight forward, I waited for bearish momentum to die down and entered on a break of a bearish channel.

Conclusion of this trade… always be like water let the market dictate how, when and where you should be trading. Do not let your own egoistic/arrogant self be the dictator of ur trading action but only market itself.