Looks like a potential double top, with a 4h reversal bar. Short if low of 4h reversal bar breaks.
Short: 1199
S/L: 1210
TP 1: 1185
TP 2: 1150
Short: 1199
S/L: 1210
TP 1: 1185
TP 2: 1150
Note
The 4h reversal bar never broke, instead gold went higher. Gold is still in the pitchfork range, but the 1210 level was supposed to act as a resistence level. I will be waiting for any type of PA before putting my order.Note
Gold broke its shortterm trendline and re-tested that trendline (16-12-23 to 2017-01-18).Short: 1197 (when it breaks)
SL: 1207
TP 1: 1185
TP 2: 1165
Trade closed: stop reached
Loss 10 pips, could still go down though. Just poor choice of entry and S/L from me.
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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.