Gold intraday short selling setup
Updated
Gold is at important support zone in bigger timeframe, I've already holding a long position, however in intraday trading there's a short selling setup that I'd like to trade as well. Both Long and Short orders are independent to me.
In 15 minutes chart there was a reversal rejection last night, and up trend's 0.618 support zone is still slightly lower
The chart is telling:
1. SL hunted sell order last night
2. reversal rejection
3. new SL hunting zone below
4. 0.618 support is slightly lower
Sell Entry: 1677.50
Stop Loss: Swing high
Target: SL hunting zone 1660
RR: 1:2.X
I'll set break-even for this order once RR 1:1 is reached to protect my capital, overall my bias on Gold is bull, it's just an intraday trade.
In 15 minutes chart there was a reversal rejection last night, and up trend's 0.618 support zone is still slightly lower
The chart is telling:
1. SL hunted sell order last night
2. reversal rejection
3. new SL hunting zone below
4. 0.618 support is slightly lower
Sell Entry: 1677.50
Stop Loss: Swing high
Target: SL hunting zone 1660
RR: 1:2.X
I'll set break-even for this order once RR 1:1 is reached to protect my capital, overall my bias on Gold is bull, it's just an intraday trade.
Note
partial profit & set break-even for the trade at 1670Trade closed: target reached
closed at break-even. partial profit was taken at 1670.
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