Part 2. Let's jsut say Gold is going down.....What next?
Short Term short (Example)
So we've done our higher time analysis.
To keep it simple, I know gold is very bearish and I want to find several zones where I can enter for a continued move to the downside.
Again keeping it simple i've shown two areas we can look to hop onto the trade. Both setups have a good or awesome risk to reward.
Option 1:
Structure Based setup where price action has created a new low and finds short term relief rally back up to a previous structure level. Targets should be several pips above/below structure when buying or selling.
We can use alot more than what i've shown here to identify entries, stops and targets.
Hope this helps.
Cheers
Option 2:
Structure based setup but we also have an advacned Cypher pattern where we can look to enter at market or limit at the 78.6% of the cypher retracement.
So we've done our higher time analysis.
To keep it simple, I know gold is very bearish and I want to find several zones where I can enter for a continued move to the downside.
Again keeping it simple i've shown two areas we can look to hop onto the trade. Both setups have a good or awesome risk to reward.
Option 1:
Structure Based setup where price action has created a new low and finds short term relief rally back up to a previous structure level. Targets should be several pips above/below structure when buying or selling.
We can use alot more than what i've shown here to identify entries, stops and targets.
Hope this helps.
Cheers
Option 2:
Structure based setup but we also have an advacned Cypher pattern where we can look to enter at market or limit at the 78.6% of the cypher retracement.