NasBaz

Amazing 1:25 Risk:Reward Sell on Gold!!!

Short
NasBaz Updated   
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Very nice confluences lining up on gold (trendline retest + 61.8 fib + 30 min supply zone ). Could be a very promising sell opportunity. excellent RR. A more conservative entry method would be to wait until tomorrow and enter off the right shoulder should a h&S pattern form.
Comment:
very nice rejection, have 1 entry with stops at breakeven. will not add more positions until day closes.
Comment:
Stops safely at breakeven. Trade is risk free
Comment:
if todays candles doesnt close sub $1825, there is the potential that todays push was a formation of a left shoulder, where we can expect to see one more spike to the upside tomorrow

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.