Note: Gold, XAU/USD
Congratulation to those who short this trade as
per our analysis last week.
Overall, we are still bearish on this pair!
There are 3 trading plans for this trade:
1. There is a weak pullback sit on 1134.x level,
if bearish signal appeared, short it with right
risk amount
2. If the pullback continue, wait it touch the
20-EMA and short it after a bearish signal appeared
3. If the pullback is quite strong, the price might
approaching the resistance zone near 1169 level,
we need to wait for strong bearish signal to short!
Congratulation to those who short this trade as
per our analysis last week.
Overall, we are still bearish on this pair!
There are 3 trading plans for this trade:
1. There is a weak pullback sit on 1134.x level,
if bearish signal appeared, short it with right
risk amount
2. If the pullback continue, wait it touch the
20-EMA and short it after a bearish signal appeared
3. If the pullback is quite strong, the price might
approaching the resistance zone near 1169 level,
we need to wait for strong bearish signal to short!
Trade active
Zoom into H4 Chart, the price fall back to 20-EMA, followed by 1 2B Reversal signal and another small trend bars. A good SWING setup pattern. A signal to short with little riskEP: 1133.21
SL: 1161.80
TP: 1088.94
A better short opportunity will appear if the price breaks the 1132x support line and pullback to this support line...
Trade closed manually
As Christmas and New Year are around the corner, the market is pretty quiet...Decided to close early as we don't want to carry the trade over the weekend.
Took little profit of 1 pip. LOL.
Can wait the trade pullback to resistance line and short again. :)
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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.
Related publications
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.