XAUUSD M30 : SELL below 1968.87
Updated
Price reacted at 1971 and showed signs of a reversal. Since there was no strong buying pressure to follow, a sell was executed at 1968.87.
Take-profit was set at the nearest bottom with a risk-reward ratio of 1:5.
Take-profit was set at the nearest bottom with a risk-reward ratio of 1:5.
Note
The price rebounded sharply from 1965 to 1968, reaching the entry point and then reversed to decline. There is a stop-loss sweep or encouragement for buyers to enter the market to cause the price to reverse to decline. The worst-case scenario is that the downward momentum is lost and the upward momentum takes over, leading to a stop-loss hit.
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.