Current Price: 3,362.84 USD
Recent Move: Sharp bullish breakout after a tight consolidation range.
🔹 Trade Setup Components:
✅ Entry Point:
3,355.67 USD (marked on the chart)
This level was resistance during the consolidation phase; now acting as support after the breakout.
✅ Stop Loss:
3,348.92 USD
Positioned just below the consolidation support area to reduce the risk of a false breakout.
✅ Target Point:
3,399.45 USD (approximate target within the highlighted target zone around 3,399.08)
This gives an upside potential of ~43.78 USD per ounce.
✅ Reward/Risk Calculation:
Risk: ~6.75 USD
Reward: ~43.78 USD
Reward/Risk Ratio: ~6.5:1, which is highly favorable for trend-following trades.
🔹 Price Action Observations:
The strong bullish candle that closed above the previous highs confirms breakout momentum.
Follow-through buying pressure reinforces the bullish bias.
The consolidation area has been clearly defined and tested multiple times, validating the zone as a reliable support region.
Volume (not shown here) would be helpful to confirm conviction behind the move.
🔹 Strategy Notes:
Bias: Bullish continuation toward 3,399.45.
Invalidation: Price falling below 3,348.92 and closing beneath it would negate the bullish structure.
Management Considerations:
Partial profit-taking could be considered near 3,380–3,390 to lock in gains.
Trailing stop can be used to protect profits if momentum continues strongly.
Watch out for possible retracements back to the entry zone before continuation.
✅ Summary:
This is a well-defined breakout-retest setup with a strong momentum signal, excellent reward/risk ratio, and clearly marked invalidation level. If the breakout holds, the target zone near 3,399 remains a realistic objective.
If you’d like, I can help you:
Calculate precise lot sizing based on your risk tolerance
Review higher timeframes for confluence
Create a trade management plan
Recent Move: Sharp bullish breakout after a tight consolidation range.
🔹 Trade Setup Components:
✅ Entry Point:
3,355.67 USD (marked on the chart)
This level was resistance during the consolidation phase; now acting as support after the breakout.
✅ Stop Loss:
3,348.92 USD
Positioned just below the consolidation support area to reduce the risk of a false breakout.
✅ Target Point:
3,399.45 USD (approximate target within the highlighted target zone around 3,399.08)
This gives an upside potential of ~43.78 USD per ounce.
✅ Reward/Risk Calculation:
Risk: ~6.75 USD
Reward: ~43.78 USD
Reward/Risk Ratio: ~6.5:1, which is highly favorable for trend-following trades.
🔹 Price Action Observations:
The strong bullish candle that closed above the previous highs confirms breakout momentum.
Follow-through buying pressure reinforces the bullish bias.
The consolidation area has been clearly defined and tested multiple times, validating the zone as a reliable support region.
Volume (not shown here) would be helpful to confirm conviction behind the move.
🔹 Strategy Notes:
Bias: Bullish continuation toward 3,399.45.
Invalidation: Price falling below 3,348.92 and closing beneath it would negate the bullish structure.
Management Considerations:
Partial profit-taking could be considered near 3,380–3,390 to lock in gains.
Trailing stop can be used to protect profits if momentum continues strongly.
Watch out for possible retracements back to the entry zone before continuation.
✅ Summary:
This is a well-defined breakout-retest setup with a strong momentum signal, excellent reward/risk ratio, and clearly marked invalidation level. If the breakout holds, the target zone near 3,399 remains a realistic objective.
If you’d like, I can help you:
Calculate precise lot sizing based on your risk tolerance
Review higher timeframes for confluence
Create a trade management plan
Trade active
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my telegram (COPY_TRADE)
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.