Trade 2: XAU/USD - T1 Hit, SL about to Hit
Things that might have gone wrong technically:
1. While T1 of 2649.23 has been hit (0.57% from entry), most of it can be attributed to the confirmations like
- Flag and Triangle breakout
- 5 min timeframe, EMA cross under along with price closing below the low of the breakout candle, and also breaking the Shorter HMA
- 15 min timeframe, Medium HMA was above the Shorter HMA - indicating a bearish sentiment
2. There is a FVG on the higher time frame, for which the price might be retracing to.
3. Anticipation of higher targets, without confluence on higher time frames indicators or correction in higher time frame breakout
1. While T1 of 2649.23 has been hit (0.57% from entry), most of it can be attributed to the confirmations like
- Flag and Triangle breakout
- 5 min timeframe, EMA cross under along with price closing below the low of the breakout candle, and also breaking the Shorter HMA
- 15 min timeframe, Medium HMA was above the Shorter HMA - indicating a bearish sentiment
2. There is a FVG on the higher time frame, for which the price might be retracing to.
3. Anticipation of higher targets, without confluence on higher time frames indicators or correction in higher time frame breakout
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.