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June 11, 2020

Live Trade Analysis: Gold 08 June 2020

This trade breakdown is by Connor Ballinger, a member of the Duomo Team supporting our Premium Members.

This was an opportunity for a GOLD short trade 8 June 2020.

Daily Time Frame

The daily time frame shows us that we are currently operating in a sideways market over the short term and have recently reversed from the lows.

1-Hour Time Frame

In the screenshots below you will find both the long and medium-term wave structures combined with what I determined to be the most relevant significant levels relating to these structures. 

5-Minute Time Frame

Here you can see the criteria I had chosen to base my trade entry on and also where I determined the stop loss and trade move potential to be. 

Finally, you can see the result of the trade and the actions taken at different critical moments from trade entry to closure. 

(Please ignore the risk allocation shown in the screenshot, the actual risk was around 0.7%)

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