Gold Short Opportunity

FX:XAUUSD   Gold Spot / U.S. Dollar
749 4
Price reached the downtrend line. RSI is going to confirm price reversal. We have short opportunity and we can place sell-stop pending orders below 1258.00 with stop orders above 1275.00 level. Profit targets should be at 1220.00 and 1200.00 levels. As for long trades, they can be opened from the uptrend line.
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DLavrov Najib13th
@Najib13th, this trade does not have huge stop and at the same time it's a good level for opening short trades. Thanks for your comment! Good luck )
+1 Reply
Your idea is good but not yet
DLavrov trung.nguyenduc1708
@trung.nguyenduc1708, we'll see price action near this downtrend line. Now price breaks the line, but we need more confirmation. If price returns below this line withing several days, we'll have short opportunity again.
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