Good Opportunity to Short Trade XAUUSD in 4 Hr Timeframe.
Updated
Following ideas help develop a Short Trade Idea in XAUUSD 4 hr Timeframe.
1. Price respecting the upper line of the pitchfork drawn in pivots 0-1-2 (Black Line)
2. Price respecting the support line drawn in pivots 1-4 and extrapolated to pivots 3-5 (Blue Line)
3. Price respecting the inward frequency of proven supply zone at pivot 3 and showcasing strong selling
pressure in the upward wicks of the current candles (Red Line)
4. Bearish Divergence of Price with respect to RSI in pivots 3-5 (Green Arrow)
Entry for Short Trade: 1798
Stop Loss: 1813
Target : 1774
Note: This is for education purpose only. Trade at your own Risk.
1. Price respecting the upper line of the pitchfork drawn in pivots 0-1-2 (Black Line)
2. Price respecting the support line drawn in pivots 1-4 and extrapolated to pivots 3-5 (Blue Line)
3. Price respecting the inward frequency of proven supply zone at pivot 3 and showcasing strong selling
pressure in the upward wicks of the current candles (Red Line)
4. Bearish Divergence of Price with respect to RSI in pivots 3-5 (Green Arrow)
Entry for Short Trade: 1798
Stop Loss: 1813
Target : 1774
Note: This is for education purpose only. Trade at your own Risk.
Note
What an accurate short entry @ 1798.Price now @ 1788. Going.. going and going..:)
Trade active
S0 far... 1500 PIPS... Wow.. Going. going and going.Note
In this Trade, Price almost reached our Target. Our Target was 1774 but price reached 1777, which is 30 pips less of Target. Yet we generated a profit of 2100 PIPS. Awesome.
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