XAUUSD
Updated
gold has reached its recent highs once again at the 1834 area. narrowing into the smaller time frames price has created a massive bearish impulse off of the resistance and then created a lower high wick also lines up with the 0.786 retracement level. and a bearish engulfing as another confirmation.
this is a high risk trade however it is backed by many confluences and managing risk appropriately it is a valid trade to be taken.
risk to reward; 1:4.15
stop loss has been set above the lower high
take profit is set to the top of the consolidation phase price had broken out of.once gold drops to 1828 look to take partial profits and bring stop loss to break even.
this is a high risk trade however it is backed by many confluences and managing risk appropriately it is a valid trade to be taken.
risk to reward; 1:4.15
stop loss has been set above the lower high
take profit is set to the top of the consolidation phase price had broken out of.once gold drops to 1828 look to take partial profits and bring stop loss to break even.
Trade active
the trade is still active guys. we are currently in profits of around 30 pips.price has broken below the 1828 level so i hope everyone did take some profits off the table and bring stop loss to break even.
Trade closed manually
hopefully people secured some profits here. nice trade minimal draw down just how we like it :)ive closed with a 80 pip profit
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.