Selling at Today's High, Riding the Wave from Consolidation to R
Flag Formation Signals Potential Sell: Observing a flag formation in today's GOLD price movement, which suggests a probable selling opportunity.
Head and Shoulder Formation Potential: If the flag evolves into a head and shoulder formation, we could anticipate a significant sell-off.
Downside Target: Left Shoulder: The sell-off may extend down to the level of the left shoulder in the formation.
Execution Plan: Planning to enter a sell position when today's high is revisited. Setting a Stop Loss (SL) at yesterday's high to manage risk.
Room for Flag Formation: Recognizing that the flag pattern may still have room to develop, indicating potential consolidation in GOLD for some time.
Unpredictability of GOLD: Remembering that the market for GOLD can be unpredictable, but these observations point towards a potential selling opportunity.
Head and Shoulder Formation Potential: If the flag evolves into a head and shoulder formation, we could anticipate a significant sell-off.
Downside Target: Left Shoulder: The sell-off may extend down to the level of the left shoulder in the formation.
Execution Plan: Planning to enter a sell position when today's high is revisited. Setting a Stop Loss (SL) at yesterday's high to manage risk.
Room for Flag Formation: Recognizing that the flag pattern may still have room to develop, indicating potential consolidation in GOLD for some time.
Unpredictability of GOLD: Remembering that the market for GOLD can be unpredictable, but these observations point towards a potential selling opportunity.
Note
Entry is 1923.25Sl is 1928.51
TP 1904.83
@ Risk 150$ .31 lot
Note
Trade activeNote
Gold standing on R1 ,, while DXY currectly about to break the trend line and may potentially reach 104.669 however if its not breached then Gold will get a rejection from here...Overall USD is strong ..and Gold should loose the steam
Trade closed: stop reached
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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.
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.