Potential Short Trade - Rising Wedge

FX:XAUUSD   Gold Spot / U.S. Dollar
309 9 4
Potential Short Trade - Rising Wedge
will this be pull down we are expecting to write for weekly wave up !
What is the point of having such a wide stop on a rising wedge??? If you expect 1220 to protect your position than it's not a rising wedge any more. A rising wedge either collapses at the high point or not. In this particular case I'd be out of the short a long ago. Trading Gold on H1 is very hazardous, imo. When Gold starts a rally it's like a freight train at high speed - you don't wanna be in the way, mate.
JalRad fximperija
u r wrong imperjia its not like that specially about gold
I appreciate your comment. its probability, not definite and yet in Zone.
I'm not always right but I'm never wrong! I was referring to the wide stops. I say: the wider the stop the less confident the trader! I have traded Gold many, many times with success, so know exactly what I'm talking about! But, if you both have profitable strategies, thumbs up, go for it!
baraq.adnan fximperija
fximperijia @ thanks fellow, i agree with your comment but will you share your strategy how precisely we can reduce SL, we will appreciate your contribution.
fximperija baraq.adnan
Well, you can use the market structure to place stops as I do and the Murrey lines (proven to be very precise)
fximperija fximperija
In this particular case Gold short on H1 the Murrey line 8/8 ultimate res. @1218.75 was a nice entry.
JalRad fximperija
for example i can say gold probably is going to create a falling wedge on daily u try to answer what makes me think like that?
higher time frames always take precedence. weekly is up :) i am waiting for pull down to go long
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