XAUUSD
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
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