XAU, 1h : Sell
XAU :
Sell : 1635.3
Stoploss : 1650
Tp1 : 1610
Tp2 : 1572
1. DID THE MARKET PROVIDE AN OPPORTUNITY?
Yes, the chart pattern show lower high --> We have Short opportunity
2. DID YOU HAVE A PLAN?
yes
3. DID YOU ENTER?
Yes, I will enter this deal
4. DID YOU APPLY RISK MANAGEMENT?
Yes, I will use 2% of my equity for this deal
5. DID YOU USE A STOP LOSS?
Yes
6. DID YOU MOVE BREAK EVEN TO OBTAIN A FREE TRADE?
Yes, after the price break TP1
7. EXIT PLAN?
I will exit 50% at TP1, then move the remain to break-even, what until TP2 or stopped out
8. IF STOPPED OUT THEN RE-ENTRY PLAN ?
If the price bound back and eat my stoploss, then I will reentry SHORT if the market show the opportunity again .
I will re-entry maximum 2 times.
Sell : 1635.3
Stoploss : 1650
Tp1 : 1610
Tp2 : 1572
1. DID THE MARKET PROVIDE AN OPPORTUNITY?
Yes, the chart pattern show lower high --> We have Short opportunity
2. DID YOU HAVE A PLAN?
yes
3. DID YOU ENTER?
Yes, I will enter this deal
4. DID YOU APPLY RISK MANAGEMENT?
Yes, I will use 2% of my equity for this deal
5. DID YOU USE A STOP LOSS?
Yes
6. DID YOU MOVE BREAK EVEN TO OBTAIN A FREE TRADE?
Yes, after the price break TP1
7. EXIT PLAN?
I will exit 50% at TP1, then move the remain to break-even, what until TP2 or stopped out
8. IF STOPPED OUT THEN RE-ENTRY PLAN ?
If the price bound back and eat my stoploss, then I will reentry SHORT if the market show the opportunity again .
I will re-entry maximum 2 times.
Note
Target 1 : Reached 1610, Going to target 2 nicely
Note
Follow the Plan, i have take out 50% profit at target 1 and move the stoploss to break-event. So I have a free trade now !Trade closed: target reached
Target 2 Reached
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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.