GOLD April 29, 2024: An Early Short Entry
On April 29, 2024, 2AM UTC,
GOLD
is moving inside an rising channel as we can see on a 4h chart below.
A break below this channel suggest a downside to around 2280 (the white line on the chart)
We can wait until the breakdown, putting a sell stop order.
Or we can enter an early short here, as
GOLD
is moving below the lowest close of 4h chart since April 25, 2PM UTC. We also can see that it is trading right below the 2 resistances formed by EMA-34 and EMA-89, a popular moving averages used by Sonic.
GOLD
is moving inside an rising channel as we can see on a 4h chart below.
A break below this channel suggest a downside to around 2280 (the white line on the chart)
We can wait until the breakdown, putting a sell stop order.
Or we can enter an early short here, as
GOLD
is moving below the lowest close of 4h chart since April 25, 2PM UTC. We also can see that it is trading right below the 2 resistances formed by EMA-34 and EMA-89, a popular moving averages used by Sonic.
Trade closed: stop reached:
We closed the trade as stop was reached.
Comment:
A break down did happen, but without me 😂 That is how the hard truth of trading in real life presents: You can make a loss even if you predict it right. So it is crucial to keep every losses small enough.
