Short

GOLD SPOT (daily time frame) - Short

Updated

There has been a strong support level since April 17, after the breakout that occurred on April 13.
Also in the meantime, we can see a near resistance/ support level
I confirmed these strong and near level by circling each testing that occurred on the level
Also EMA 10 & 20 period tends to become the dynamic resistance
Also have same view on 4hr timeframe, check it below

After the turn around on the near support, the market went bullish till the near resistance. And from there, we can see a fake bullish breakout there which i alighted with rectangle , and afterward, the market movement turn downward, towards the near support level ... c
Conclusively, I am having a sell signal on XAUUSD

Trade Setup
Call Type: Short (Sell)
Entry: 1810.00
T.p: 1750.00 (on the near-support)
S.l: 1825.00 (just above the near-resistance)

profit in pips: 60 pips
loss in pips: 15 pips
Risk-reward-ratio: 1:4

Like and drop your thoughts as comment if you agree with me, or otherwise.. lets trade and win together
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Trade closed: stop reached

Stoploss has been hit... Trade closed

Trade closed manually

I place sell order again with the same signal i said, because same fake breakout occurred again, and it was followed by a pin bar sell signal, and the price sold till 1760 before i close it manually
Patience is the key.... I placed the order with initial plan of risking 20% of my capital, and in turn got back 65% profit of my capital.

Note

From Aug 2nd till today, that's 5 working days.
I closed it because trade will not be active during the weekend :)

Skuchies_CryptoKing

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