XAUUSD push lower from 1785.70 handle
Updated
Hi traders
I have a few reasons for shorting this pair.. Trading gold can either Make you love it or hate it.. No inbetween
1. Further fundamental (CONTINUING FROM FRIDAY) news releases are yet to come into affect with XAUUSD, this is to show that when it comes to economic uncertainty, there is less than what there was.. So investors would put their money elsewhere..
2. Price (entry) lays comfortable with the market psychology at around 1785.70
3. Price will need to move a little higher to 'overbought' the market..
4. The market shows clear signs for a bearish structure.
5. EMA's are showing bearish moving momentum.
This trade is based of speculation and the strategies we've put in place.. This is not financial advise and you will need to adjust lot size to your balance.
Potential entry 1785.70
Potential pip profit 200+ pips
Stop loss: 35 pips
Trade at your own risk.
Kind regards
Saif
I have a few reasons for shorting this pair.. Trading gold can either Make you love it or hate it.. No inbetween
1. Further fundamental (CONTINUING FROM FRIDAY) news releases are yet to come into affect with XAUUSD, this is to show that when it comes to economic uncertainty, there is less than what there was.. So investors would put their money elsewhere..
2. Price (entry) lays comfortable with the market psychology at around 1785.70
3. Price will need to move a little higher to 'overbought' the market..
4. The market shows clear signs for a bearish structure.
5. EMA's are showing bearish moving momentum.
This trade is based of speculation and the strategies we've put in place.. This is not financial advise and you will need to adjust lot size to your balance.
Potential entry 1785.70
Potential pip profit 200+ pips
Stop loss: 35 pips
Trade at your own risk.
Kind regards
Saif
Trade active
Trade closed: stop reached
Unfortunately, we hit stop loss with this XAUUSD trade, however it wasn't the trade that was wrong. It was the timing. Things like this happen all the time.
Saif
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.