Simple 4h Timeframe resistance XAU/USD Short Profitable trade
Simple trade utilizing the 4 hour timeframe on XAUUSD.
We entered a short at recent ATH levels, markets retested the level for a second entry.
We saw a quick rejection, prices quickly went to TP1 where i took a close on my first position and placed a trailing SL to TP1.
unfortunately, my trades did not continue forward as the trailing SL was hit.
Regardless, we hit a 2-300 point trade on both positions, keeping us profitable.
Will continue to short at these levels at future retests until we see a break, at which point I will not be trading until further new structure gets built at new all time high levels.
I may be inclined to trade the range at the loss of the previous trades Key level, where I had a trailing stop, but the overall position did not go as planned.
We entered a short at recent ATH levels, markets retested the level for a second entry.
We saw a quick rejection, prices quickly went to TP1 where i took a close on my first position and placed a trailing SL to TP1.
unfortunately, my trades did not continue forward as the trailing SL was hit.
Regardless, we hit a 2-300 point trade on both positions, keeping us profitable.
Will continue to short at these levels at future retests until we see a break, at which point I will not be trading until further new structure gets built at new all time high levels.
I may be inclined to trade the range at the loss of the previous trades Key level, where I had a trailing stop, but the overall position did not go as planned.
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