Gold Long after H4 TL Bounce, buy limit is set, if triggered over night, due to FOMC on Wednesday, may go flat early to avoid a crash in profits. Or protect profits. If this doesnt trigger, I will be looking to make a post FOMC move.
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Buy Limit activated overnight.
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Decided to move my stop to structure low in prep for FOMC tomorrow if I keep the trade alive for that. It's still a 1:1 risk reward. :)
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...but if it breaks my original SL location today, I will consider getting out and re-enter at a better price maybe after FOMC. Because if it breaks that SL, then its below the h4 TL and has went back into a sell zone. We shall see. Price is in consolidation now.....
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In profits good from last night...will likely hold this position thru FOMC, the move should keep going buy. I am targeting 61.8 fib.
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Changed TP target to 78.6 fib, longer term buy - but still may get out at 61.8, depending on the aggressive FOMC moves.
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Moved stop loss to last consolidation zone, in profit if hit. Still targeting 78.6 fib for tp!
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Tightened stop up to a good profit level in case of small correction. Locking in profits! I am still targeting 78.6, should reach it today! Wait and see.