Good time for taking Profits GC (GOLD Futures) by ThinkingAntsOk
With this post, we don't want to say that Gold cant keeps rising, the idea we want to give is:
a) If you have opened positions on the previous corrective Structure, then you have a good market movement in your favour
b) If your current risk-reward ratio is above 1.5, then it is a good level to take profits
c) The reason is: we are in the all-time high zones, and it is uncertain how the price can behave here
d) Our approach is always to close positions on relevant support resistance zones, and then wait again for a clear corrective Structures like the 2 that you can see on this chart.
a) If you have opened positions on the previous corrective Structure, then you have a good market movement in your favour
b) If your current risk-reward ratio is above 1.5, then it is a good level to take profits
c) The reason is: we are in the all-time high zones, and it is uncertain how the price can behave here
d) Our approach is always to close positions on relevant support resistance zones, and then wait again for a clear corrective Structures like the 2 that you can see on this chart.
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