Racing at full speed in GLD. A scenario that also accounts for stop-hunting

In yesterday's analysis community, we shared a buy signal for GLD.

At the time of posting, did it drop this far?

Some may have thought so, but there is always a foundation for the anticipated analysis.

On top of that, this is a moment to say buy here.

Of course, not everything will turn out that way, but by constructing a scenario in advance, you can avoid unnecessary trades.

This was a post at 19:03 yesterday.

Good job everyone. Today we are considering a counter-trend buy on GLD. It carries a bit higher risk, so please watch your lot size. It is likely to drift down toward the NY session. The scenario is to buy in the red circle zone of 4560-4565. However, there is a prior-day low zone beneath it, and there is also a possibility of temporarily breaking below that to then rise, so it’s better to place stop-loss below the yellow zone. Please adjust exits as needed. If this zone is not reached, it will be a no-trade.

Results ↓↓↓

By the way, I entered with a limit order and got hunted (laugh).

Then I re-entered around 4580 and am holding. Risk is 1%, with over $3,500 unrealized gain.

The area around the red circle is the take-profit target, but there are reasons, not just wishes.

Of course, it doesn’t always happen like that, but it’s important to build your own rationale and act on it.

FX is a game of finding walls.

If you know the wall, you can construct a scenario.

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