Gold is going in bearish trend after a long bull run since June 2024.
Simple Fib retracement has been drawn to identify the likely TPs.
SHORT Trade Call
Entry Sell:2585
SL: 2608
TP1: 2558
TP2: 2512
TP3: 2484
Simple Fib retracement has been drawn to identify the likely TPs.
SHORT Trade Call
Entry Sell:2585
SL: 2608
TP1: 2558
TP2: 2512
TP3: 2484
Trade active
A safer approach for this trade for those have not taken it yet is to Enter through Sell Stop at price $2577.Trade closed: stop reached
TP1 reached; however, then trend reversed to bullish. Therefore, it triggered Stop Loss which I had manually moved to Breakeven after hitting TP-1. Therefore, trade closed without any gain or loss.Now trend is making a Bullish Pole & Flag pattern OR one may consider it making AB=CD pattern.
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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.