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BIAS & PAZ

BIAS & PAZ

UPDATE

TRADE RESULT

NOTES

After gold ran the liquidity on the Daily chart we had a drop and a retrace back to the daily OB. We treat this as our PAZ. Switching to the LTF we see a big bullish spike before the market spiked back down. It then retraced, without taking the spike high, but consolidating and taking LTF liquidity and then dropping again, forming a RP13 pattern. One could enter on the retest with a sell limit, or wait for the retest and then use a sell stop to enter when it breaks lower (dashed line). Target was the next big liquidity. This trade was a tough one, but it yielded over 10R return, so more than my personal target for a whole month.