Based on Price action the Gold has started making lower highs and lower lows, Additionally this gives me higher confidence because all the Moving Averages have moved down.
Rule 1: Price below 200 DMA
Rule 2: 50DMA< 100DMA<200DMA
Rule 3: Proper trade location, given the price has given a pullback, its a great opportunity to enter the trade from 1725 and keep building positions until 1800 with a SL of 1825.
So why do this ? You can average you price to better price and bulk of positions is close to SL.
Why 1825? This will break the downtrend and make Higher High and its better to take a small SL
30% at 1725
30% at 1760
40% at 1800
Good luck!
Rule 1: Price below 200 DMA
Rule 2: 50DMA< 100DMA<200DMA
Rule 3: Proper trade location, given the price has given a pullback, its a great opportunity to enter the trade from 1725 and keep building positions until 1800 with a SL of 1825.
So why do this ? You can average you price to better price and bulk of positions is close to SL.
Why 1825? This will break the downtrend and make Higher High and its better to take a small SL
30% at 1725
30% at 1760
40% at 1800
Good luck!