Gold Short, RR 1:5
YellowMetal - XAUUSD, don't rush into buying it yet! I am still bearish on this, as long as it doesn't break above 1230/oz, my target 1200$ will still intact.
Reason :
- Price retest and rejection on fib level 38.20% also last week NFP rejection area (sign of bull trap).
- Resistance area of 1225~1230, double top formed.
- Tight SL trade.
- Potential to reach next support points :
Entry point Short : 1225 ; TP1 : 1215, TP2 : 1208, TP3 : 1200 ; SL 1230 or above
Risk Reward 1:5
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- Price retest and rejection on fib level 38.20% also last week NFP rejection area (sign of bull trap).
- Resistance area of 1225~1230, double top formed.
- Tight SL trade.
- Potential to reach next support points :
Entry point Short : 1225 ; TP1 : 1215, TP2 : 1208, TP3 : 1200 ; SL 1230 or above
Risk Reward 1:5
Always remember to trade with stop-loss, market is crazy & cunning*
Trade active
+90pips on hand now, gold is back to retest 1215 area.Trade closed: stop reached
SL hitted despite of very bad US data.
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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.