XAUUSD There has been a strong support level since April 17, after the breakout that occurred on April 13. Also in the meantime, we can see a near resistance/ support level I confirmed these strong and near level by circling each testing that occurred on the level Also EMA 10 & 20 period tends to become the dynamic resistance Also have same view on 4hr timeframe, check it below After the turn around on the near support, the market went bullish till the near resistance. And from there, we can see a fake bullish breakout there which i alighted with rectangle , and afterward, the market movement turn downward, towards the near support level ... c Conclusively, I am having a sell signal on XAUUSD
Trade Setup Call Type: Short (Sell) Entry: 1810.00 T.p: 1750.00 (on the near-support) S.l: 1825.00 (just above the near-resistance)
profit in pips: 60 pips loss in pips: 15 pips Risk-reward-ratio: 1:4
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Trade closed: stop reached
Stoploss has been hit... Trade closed
Trade closed manually
I place sell order again with the same signal i said, because same fake breakout occurred again, and it was followed by a pin bar sell signal, and the price sold till 1760 before i close it manually Patience is the key.... I placed the order with initial plan of risking 20% of my capital, and in turn got back 65% profit of my capital.
Comment
From Aug 2nd till today, that's 5 working days. I closed it because trade will not be active during the weekend :)
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