Gold (XAUUSD) Short on the 30min timeframe
Updated
This is the first trade idea I have posted on tradingview and is the beginning of many. The artistic nature of technical analysis means that only through constant focus and discipline will my abilities improve, therefore I do not post this for anybody else except myself. I am on way to becoming a skilled chartist that is consistently profitable and this is my service to the universe in which I will compensated with that which I seek.
The reason I believe a short once the level indicated by the white horizontal line has been reached is a good idea is because it corresponds with a previous level of structure I drew but did not post with a rising trend line which was broken. The stop loss level has been set to just above recent highs and the take profit near the 50-61.8% Fib level that gives a 2:1 risk reward. Lets see how this works out.
The reason I believe a short once the level indicated by the white horizontal line has been reached is a good idea is because it corresponds with a previous level of structure I drew but did not post with a rising trend line which was broken. The stop loss level has been set to just above recent highs and the take profit near the 50-61.8% Fib level that gives a 2:1 risk reward. Lets see how this works out.
Note
Stop loss just passed break-even for a risk less trade :)Trade closed: target reached
fell just like domino's :D Please follow me on my journey, comment and provide constructive feedback and I will do the same for you. #Lawofattraction
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