Short

Gold Ready For a Reversal?

Updated

We have all seen the run up on gold (XAU/USD), but we've come into a key level of resistance, and just broke an upward trendline to make a lower low (on the 15 minute chart). We also have divergence on the RSI that caught my attention. This is a counter trend trade, so trade with caution and only if YOUR rules are met.

Entry: 1424.50 to 1425.50
Stop: Above 1434
TP1: 1407.00
TP2: 1394.00
TP3: 1358.00

Trade active

TP1 hit at 1407. Closing half the position and moving stop to break even

Comment

TP2 hit. Leaving remaining 1/4 of position for TP3. Moving stop to 1410

Trade closed manually

News bringing about price spike. Closing remainder of profits

jjburrel

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