The breakout occurred in Gold pair has been so strong and fast-paced and it almost reach my target profit (1670.00) when I open my platform for daily routine checking in this morning.
It took me awhile in deciding whether should I capture the profit or not even before my target profit is hit. At last, I have made up my mind to close this position at 1,662.85 to capture profit due to following reasons:
(i) The breakout is strong and huge, and it is caused by the FOMC meeting yesterday on "possible stimulus programme". A retracement will likely to take place pretty soon after such surge. I can enter long position again at swing low should the trend now is bullish.
(ii) I able to earn the breakout movement and did not lose anything if I close my position now - greedy check.
(ii) The current price level is close to my profit target and it is impossible to capture 100% of the price movement everytime.
On top of that, I also posted the Gold price chart before and after the setup below:
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| Gold - Daily chart (before) |
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| Gold - Daily chart (after) |
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