11.40am..
Looking at the 4Hr chart, there are 3 pin tail pointing up. Gold is at support level and there is a risk of breaking it and falling further. I would like to think of the support as supporting and price moving up instead.
The previous 4 hours price was a doji, so it's not helping in the decision making.
Will long,..and note that this is a contraian move.. buying against the general flow of price fall.
Went in 1 lot at 1724.02, SL at 1698.17, TP at 1758.9. R/R ratio = 1: 1.2 (thereabout). Potential loss = $34.
Current position:
1 long gold
20 long silver
2K short USD/CHF.
Cash position : $261
Net Value of of now $270
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