baraq.adnan
Short

Potential Short Trade - Rising Wedge

FX:XAUUSD   Gold/U.S. Dollar
306 9 4
Potential Short Trade - Rising Wedge
will this be pull down we are expecting to write for weekly wave up !
fximperija
2 years ago
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.
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JalRad fximperija
2 years ago
u r wrong imperjia its not like that specially about gold
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baraq.adnan JalRad
2 years ago
I appreciate your comment. its probability, not definite and yet in Zone.
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fximperija JalRad
2 years ago
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!
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baraq.adnan fximperija
2 years ago
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.
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fximperija baraq.adnan
2 years ago
Well, you can use the market structure to place stops as I do and the Murrey lines (proven to be very precise)
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fximperija fximperija
2 years ago
In this particular case Gold short on H1 the Murrey line 8/8 ultimate res. @1218.75 was a nice entry.
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JalRad fximperija
2 years ago
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?
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baraq.adnan JalRad
2 years ago
higher time frames always take precedence. weekly is up :) i am waiting for pull down to go long
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