XAU/USD: STRUCTURE+TREND TRADE, PRE-FED SETUP
FIRST OF ALL: This is a pre fed setup, which means that it may easily get invalidated, with certainty the gold will go crazy with the speculation, so this may be just an educational setup.
1. The previous channel was broken to the downside, not without us taking 1750 pips first, of course (See previous Gold ideas)
2. Now we have a trend continuation trade at a major the resistance
3. Also the classic stochastic it's almost over bought
4. Finally, expecting a bounce off the descending trend line (the red one)
"Trading news is like throwing your dollars to the air waiting to fall back into your hands"
CortesTeam
1. The previous channel was broken to the downside, not without us taking 1750 pips first, of course (See previous Gold ideas)
2. Now we have a trend continuation trade at a major the resistance
3. Also the classic stochastic it's almost over bought
4. Finally, expecting a bounce off the descending trend line (the red one)
"Trading news is like throwing your dollars to the air waiting to fall back into your hands"
CortesTeam
Comment:
Painless Trade, covered the position before the FOMC announcement
