MGC - Buy - 06/30/2024

Jul 1

- What is the trend?
• Bullish

- 1H: Is price touching a key fib level (yellow)? (Gold is tricky so look for .382 and .786 levels too)
• Yes
- Does 1H supply/demand align with key fib level?
• Yes

- 1H: Is price above(bullish)/below(bearish) the 20 EMA, resisting the 20 EMA, or crossing the 20 EMA?
• Yes
○ 1H: Is Volume at or above average (MA) at this time?
• No
- 1H: Is RSI pointing in trend direction or above(bullish)/below(bearish) the 50 line?
• Yes

Plus:
- Is 1H supply/demand aligned with 4H OB/supply/demand area?
• Yes
• No


- 15M: Is/has price touched 1H zone or fib level?
• Yes

- 15M: Is there RSI convergence/divergence?
• Yes

- 15M: Is price above(bullish)/below(bearish) the 20 EMA, resisting the 20 EMA, or crossing the 20 EMA?
• Yes

○ 15M: Is Volume at or above average (MA) at this time?
• Yes

Jul 3

Trade closed: stop reached

Price had hit stop loss originally.
Re-entered a little later for a short buy.
Noticed that price is in a consolidation area... waiting for breakout and retest