XAUUSD bearish idea
Updated
Hello everyone.
On 4H / D / W we have reached a major resistance.
It's very unlikely to break this resistance based on history of the market on previous months
there will be lots of reactions to 1960-1970 zone probably a lot of people will place their s-limit orders around this zone.
I'm opening a sell position on Asia high between 1958-1962-1964 targeting 1934-1928.
I'll open 3 positions two I'll always close manually and last one till it hits my lowest target
that is : 1900 - 1904 based on 4H time frame.
Be careful that high impact news might change the direction of the market.
This trade is based on important S/R based on higher time frame + price action.
On 4H / D / W we have reached a major resistance.
It's very unlikely to break this resistance based on history of the market on previous months
there will be lots of reactions to 1960-1970 zone probably a lot of people will place their s-limit orders around this zone.
I'm opening a sell position on Asia high between 1958-1962-1964 targeting 1934-1928.
I'll open 3 positions two I'll always close manually and last one till it hits my lowest target
that is : 1900 - 1904 based on 4H time frame.
Be careful that high impact news might change the direction of the market.
This trade is based on important S/R based on higher time frame + price action.
Note
we will see fake out between 1965-1970 price hasn't reached there yet and i don't have any open positions yet.
Waiting....
Trade closed manually
Sell position opened on 1959 and 1957.Price didn't act as i planed for myself , i opened positions based on price action
on 1 hour time frame before NY.
positions manually closed on 1949.
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