XAUUSD - potential change in direction
I took this trade this morning and resulted in a nearly 6R win.
Price broke the major upper support (blue line) that was being respected since November. Once this price broke this support i looked for a short entry at 1793.4 with a stop at 1796.
Price pulled back as expected and ran down to my target of 1777.96 - which is aligned with the last touch point of the upper support.
Disclaimer: I am by no means a professional trader, but an aspiring one. Hence please feel free to provide me with constructive criticism as I do want to improve and the only way is to be held accountable. I trade alone and do not have a close community/mentor to reach out to here in South Africa as yet.
Price broke the major upper support (blue line) that was being respected since November. Once this price broke this support i looked for a short entry at 1793.4 with a stop at 1796.
Price pulled back as expected and ran down to my target of 1777.96 - which is aligned with the last touch point of the upper support.
Disclaimer: I am by no means a professional trader, but an aspiring one. Hence please feel free to provide me with constructive criticism as I do want to improve and the only way is to be held accountable. I trade alone and do not have a close community/mentor to reach out to here in South Africa as yet.
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