XAU/USD Short with 12.0 R/R - rejection of OTE
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First of all, thanks for all the support I get! My S&P 500 Analysis reached the top in the US Indices section. If you like my work and want to motivate me even more, simply like & follow not to miss any of my high-reward trades!
Today we're taking a look at XAU/USD , as it seems we could go down from here. At the very moment we're perfectly rejecting OTE of our whole retracement, while sitting at June 18' prices. Referring to the picture in the comment-section, we have a very clear bearish-divergence on the daily RSI . Along with this, our weekly 200-MA is sitting right at EQ of our retracement (refer to picture in the comment-section again) Did you notice this nice trendline? With these four confluences, I'm aiming for EQ .
Averaged-out-entries: $1302, $1306, $1309 - 50%, 25%, 25% each
TP1: $1289.90
TP2: $1277.5
TP3: $1266
TP4: $1250.5
Stop-Loss: $1310.95
First of all, thanks for all the support I get! My S&P 500 Analysis reached the top in the US Indices section. If you like my work and want to motivate me even more, simply like & follow not to miss any of my high-reward trades!
Today we're taking a look at XAU/USD , as it seems we could go down from here. At the very moment we're perfectly rejecting OTE of our whole retracement, while sitting at June 18' prices. Referring to the picture in the comment-section, we have a very clear bearish-divergence on the daily RSI . Along with this, our weekly 200-MA is sitting right at EQ of our retracement (refer to picture in the comment-section again) Did you notice this nice trendline? With these four confluences, I'm aiming for EQ .
Averaged-out-entries: $1302, $1306, $1309 - 50%, 25%, 25% each
TP1: $1289.90
TP2: $1277.5
TP3: $1266
TP4: $1250.5
Stop-Loss: $1310.95
Note
Bearish divergence on the daily chart! Do you need anything more?Note
Important update!As you can see on the picture below, EQ of our green block is right where OTE of our retracement is. A daily close above EQ at $1304.90 would mean we gained control of the upper half block, which could send us to $1326. If we close our daily-candle above $1304.90, please cut the small loss on this trade or at least decrease your position-size. Updates following as price action develops.
tradingview.com/chart/utjXYFyB/
Note
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.
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.