Trade 5 –
XAU/USD
Asset broke through resistance and hit local previous high , it already wicked to previous resistance proving it’s support level , I believe that it could form a range here , as the local high being top of the range and the previous resistance becoming support as the bottom of the range. Trade would be invalid if it does not stop at the local high and continues upwards , making the trade and potential range invalid.
Entry – 3,034
Stoploss – 3,025 (-0.29%)
Take Profit – 3,054 (+0.68%)
RR: 2.3
Result:
XAU/USD
Asset broke through resistance and hit local previous high , it already wicked to previous resistance proving it’s support level , I believe that it could form a range here , as the local high being top of the range and the previous resistance becoming support as the bottom of the range. Trade would be invalid if it does not stop at the local high and continues upwards , making the trade and potential range invalid.
Entry – 3,034
Stoploss – 3,025 (-0.29%)
Take Profit – 3,054 (+0.68%)
RR: 2.3
Result:
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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.