Short Term Distribution Bearish XAUUSD
Short Term Distribution is showing us that we are likely to move to the downside with the formation of the Test. I aim to take this short to 2300 but managing risk is always important in any position.
This setup is 7/10 however i would still risk 0.5 or 0.75% for this setup. And if fails go for the one above as im confident in this schematic.
We are in a long term accumulation which is what we do have to take into account so looking for the point where we pivot to the upside and take profits in this short is what i would suggest using fibs or other methods.
This is not financial advice , trade at your own risk.
This setup is 7/10 however i would still risk 0.5 or 0.75% for this setup. And if fails go for the one above as im confident in this schematic.
We are in a long term accumulation which is what we do have to take into account so looking for the point where we pivot to the upside and take profits in this short is what i would suggest using fibs or other methods.
This is not financial advice , trade at your own risk.
Note
Areas stopped out. Will need to analyse this further
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