XAUUSD Short Trade Setup

XAUUSD bearish trend line from Sep 2012 was hit at 1219. Now that trend line will be hit again at 1196. Which identifies two time-frame fibonacci 38.2 levels. I consider shorting XAUUSD at 1195.8, first target 1184, second target 1171. Risk/reward 2.82.

This is not a trading advice. I do not recommend using this setup, as I published it for my paper trading education. I will not invest real money into this.

Comment:

I started this trade manually, because price did not touch 1195.8 but 1195.72.

I was trailing stopped at 1190.5. With a profit of $303 for 1 lot sell.