Have to Admit that I am disappointed for stepping in the world of trading with a Stop Loss, last months while trying to use it my trading has gone totally bad.
I will quote something I said from Previous Ideas about 1276.
Whenever there are Gate levels, at some point, Gold likes to break them and go opposite direction without reaching the gate level break - target. So the thing with 1276 is that it can break it and shoot up. On the other hand, breaks are blocked by sub pivots! Sub Pivot is 1274.3 In this case, 1276 break will give a target 1254 that I already mentioned, but the trick is to know will gold break 1276 and go straight away down, or it will break it and go opposite direction. That being said SL below 1274 at 1273.2 is what I prefer!
Sure enough, Gate Level was broken Target 1254 has been given, but like stated Gold Likes to break gate levels and go opposite direction! I am not saying that this up move is indicating that bull is here, not getting emotional from couple $ move, but something tells me that it is what is happening here right now.
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As of now, I am flat, I am nor long nor short on Gold. I will wait for swing H break to go Long or I will wait for 1254 to go long. If Gold broke 1276 and as in most cases reversed and will go up, I will get my long position after Swing H break.