XAUUSD. Potential short opportunity.
Our idea is that after the price on XAUUSD has made a new ATH (All Time High) we are due for a pullback (at least 50%). Our key level is sitting at 2560 where our entry is, and if broken, we could potentially see lower lows down to our targeted areas 2545 (50% pullback) and 2529. Stops are set at candle flip as that would result in a reverse which could potentially break previous highs and continue to the upside.
Overall still bullish on XAUUSD.
PARAMETERS
- Entry: 2560
- SL: 2576
- TP1: 2545
- TP2: 2529
KEY NOTES
- The sell would be confirmed after we break the key level 2560.
- If the price breaks our key level 2560 we could expect lower lows and pullbacks.
- TP1 is a 50% pullback on previous upside move.
- Stop is set at the previous candle high.
Happy trading!
FxPocket
Our idea is that after the price on XAUUSD has made a new ATH (All Time High) we are due for a pullback (at least 50%). Our key level is sitting at 2560 where our entry is, and if broken, we could potentially see lower lows down to our targeted areas 2545 (50% pullback) and 2529. Stops are set at candle flip as that would result in a reverse which could potentially break previous highs and continue to the upside.
Overall still bullish on XAUUSD.
PARAMETERS
- Entry: 2560
- SL: 2576
- TP1: 2545
- TP2: 2529
KEY NOTES
- The sell would be confirmed after we break the key level 2560.
- If the price breaks our key level 2560 we could expect lower lows and pullbacks.
- TP1 is a 50% pullback on previous upside move.
- Stop is set at the previous candle high.
Happy trading!
FxPocket
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.
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.