(J) Trade 8: Confluence of potential Resistance #Gold
Update: Didn't trigger entry and reached targets. Cancelled Trade.
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Trade 7: Pending Short Gold @ 1205.00
S.L @ 1215.00
T1 1193.00
T2 1182.00
For $29,798.94 Balance, Position size = 0.7
7x 100=$700~ 2.4% of Balance
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Reasoning
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Wish me luck and best of luck for everyone.
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Technician
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===========================================================================
Trade 7: Pending Short Gold @ 1205.00
S.L @ 1215.00
T1 1193.00
T2 1182.00
For $29,798.94 Balance, Position size = 0.7
7x 100=$700~ 2.4% of Balance
===========================================================================
Reasoning
- 200 Day SMA forming resistance
- 1204-1205 horizontal resistance(previous high)
- Completion of ABCD wave pattern at 161.8 extension for wave BC.
- Ceiling for potential short term channel
Don't forget to click the Thumbs Up
Wish me luck and best of luck for everyone.
For Trades rules and guidelines follow this link
My best regards
Technician
Subscribe to my trading portal thefxchannel.com
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