In today's post, we go into a potential SHORT in XAU/USD = SILVER, which will have to prove itself in the next few hours.
To give you a brief overview of the symbols used in the chart, I have included a labeled version of the chart.
DIRECTION
RISK TO REWARD = 3.16
RISK TO REWARD = 8.82
CAUTION
Before you enter the SHORT, pay attention to the smaller time frames, how they react to the drawn levels.
> If there is no desired reaction on the smaller time frames, then you have to wait and see.
> Additionally, watch the DXY and GOLD for how the two pairs behave. If the DXY continues to sell off as expected, the SHORT idea is unnecessary.
> Feel free to share in the comments, about the implications of this week's dates.
> Sharing your perspective allows each of us to improve.
If this explanation has added value to you, I would be very happy to receive a rating. Thank you and happy trading!
ZIEL IST DIE AUTARKIE | THE GOAL IS SELF-SUFFICIENCY
Comment
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UPDATE ! Possible expiration + new target zone !
Trade closed: target reached
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After the price ran perfectly into the first "entry point", there was a sell-off to the marked TP3. - everyone should have closed the position completely at the latest after 4h close (shooting star).