XAUUSD (GOLD)
Updated
GOLD : TRADE IS ACTIVE
We now need to see the confirm break and close under the Mother bar's low ($1473) & this will give us some confirmation of the Sell Setup being triggered OR else , we eventually may get the fake out of the complete inside bar setup. But we dont mind the fake out, if it tests our take profit area and lets us out with our TP.
Very tricky and advanced entry technique we used here in this one.
We now need to see the confirm break and close under the Mother bar's low ($1473) & this will give us some confirmation of the Sell Setup being triggered OR else , we eventually may get the fake out of the complete inside bar setup. But we dont mind the fake out, if it tests our take profit area and lets us out with our TP.
Very tricky and advanced entry technique we used here in this one.
Note
We will be on a lookout for a possible false break of this dynamic resistance (Trend line) + the false break of multiple inside bar pattern.
Trade closed: stop reached
Stopped out of this one!
Stops must be placed at levels that if reached , the whole idea should be nullified & this is what happens here when GOLD broke and closed above the inside bar pattern and price started to trade above the mother/outside bar's high.
So , for now we will be on a lookout to join the buyers on any weakness unless we get a false break at day's close (price closes back within the multiple inside bar's range).
I always say, its the process we need to be more concerned with & not with the outcome of any single trade!!!
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