XAUUSD Short Trade Setup
Updated
Hello traders.
I'm waiting for breakout to take short trade, because I'm expexting a big down move in higher degree, so it will make a weekly regular flat corrective structure. As you can see there is a possibility for one more up side for bigger correction before it came down. I think taking the trade is good idea, but stoploss should be moved to breakeven when it breaks last bottom to avoid losing money.
If you think this is a valid forecast and good trade setup, please hit the like button.
I appriciate that if you leave a comment and let me know what do you think about this idea.
Trade with care...
I'm waiting for breakout to take short trade, because I'm expexting a big down move in higher degree, so it will make a weekly regular flat corrective structure. As you can see there is a possibility for one more up side for bigger correction before it came down. I think taking the trade is good idea, but stoploss should be moved to breakeven when it breaks last bottom to avoid losing money.
If you think this is a valid forecast and good trade setup, please hit the like button.
I appriciate that if you leave a comment and let me know what do you think about this idea.
Trade with care...
Note
It made a bigger corrective structure, but in my opinion it is still a corrective structure. So, I'm keep looking for short trade setups. I start to wait a correction after small drop in order to take short trade. In the mean time I have an entry order below previous bottom. Trade active
Note
It broke the previous bottom. Move stoploss to breakeven. If a down impulse is in the making, otherwise it can reverse.Note
Typo in the previous comment.It broke the previous bottom. Move stoploss to breakeven. If a down impulse is in the making it should go down, otherwise, it can reverse.
Note
I closed half of my trade. It reached my target and I'm looking for upside for the bigger correction. Just in case I decided to keep half of it because it can keep going down. Note
The second half of the trade stopped out with break even. So, it was a nice trade and some profit. I'm looking for sort trade setups again.
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