Gold sale rejection 1725-1731 level

Gold has moved out from the ascending wedge, first broke down and than bounced up again after the News, now is inside another bearish formation a small ascending broadening wedge, where is going the price ? probably to the R2 at 1330 or just to the boarder of the 4H descending channel, in any case it is approaching resistance area and looking at RSI 15M. 30M, 1H and 4H are all oversold, but with space for another push especially 30M so the opportunity that i see is still shorting a rejection at resiatance 1725 to 1731 checking US10Y movement and the volume of the move ; i will open probably a short position if i see another rejection in this area as per chart, if Gold break through the trade is invalidated

I TRADE HIGH LEVERAGE 5 TO 50 X NOT 1 : 1

IF I OPEN THE TRADE I WILL ADD A COMMENT TO THE IDEA

MY TRADING RESULTS
# 21 TRADE PROFIT IN THE ROW
86% WIN IN SEPTEMBER
37 WIN, 3 BE, 3 LOST
CHECK ON MY TRADINGVIEW ACCOUNT

Trade active

small 10% short position open

Note

If Gold price move to R2 I will probably increased my short position to 20%-30% at 1729-1730 and move the stop a little bit higher

Note

Added 10% to the short position to 20%

Note

I increased my average buy price to 1726, probably will closed soon and will see if i can get a higher shorting price

Trade closed manually

Trade closed for a tiny 2 US Dollar profit as XAU is keep bouncing at the 4H channel boarder that now is offering support, will revised the XAU later

Note

probably i closed too early as it lloks like is breaking down but i made another profitable trade

giorgiovie

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giorgiovie