🟡 Gold Futures (GC1!) Long Setup – 0.5 Fib Bounce
After nailing the long from the bottom and perfectly shorting the top, we’re stepping back in for another calculated move.
📉 Price pulled back to the 0.5 Fibonacci retracement, aligning perfectly with the upward trendline support and a key HVN on the Volume Profile.
📈 Entered long at 3,365 with a tight stop below 3,354 (0.3% risk), targeting the descending trendline near 3,444 for a clean 7.7R setup.
🧠 Context:
Let’s see if this bounce gets legs. 🚀
After nailing the long from the bottom and perfectly shorting the top, we’re stepping back in for another calculated move.
📉 Price pulled back to the 0.5 Fibonacci retracement, aligning perfectly with the upward trendline support and a key HVN on the Volume Profile.
📈 Entered long at 3,365 with a tight stop below 3,354 (0.3% risk), targeting the descending trendline near 3,444 for a clean 7.7R setup.
🧠 Context:
- Price reacted hard at resistance, but volume support and structure still lean bullish.
- Clear invalidation if we break trend and lose 3,350 support cluster.
Let’s see if this bounce gets legs. 🚀
Trade active
Apologies for the late post—trading is active. There’s potential for downside pressure in this zone. Fresh long entries may still shape up, but if you’re already in the trade, consider moving your stop loss to near breakeven at 3363 to protect gains.If 3364 fails to hold, expect further downside toward 3343, where we’ll be watching closely for a fresh long setup. Stay sharp.
Note
Still cautious here — moving stop loss up to 3374 to lock in some profit. If we can push through 3379, momentum may continue to the upside. However, the structure still suggests we could roll over and revisit 3343. Staying flexible and ready for either scenario.Note
Added to my order as bull momentum sustained. Looking for this pattern to complete.Trade closed: stop reached
Stoploss hit. Looking for setup from 0.618 fib.
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🚀 Founder of SciQua | Strategy. Simulation. Signals.
TradingView indicators, backtesting tools, weekly contests, and live market analysis.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.