kulpio

Gold/Usd short setup after rejection

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
On the weekly TF I traced the balance zone and its control price. After many attempt to go through the control price, once it did, a strong rejection formed itslef. Now the price is edging a important trendline. Upon its break I'd see price go the 1200ish. Maybe more after some correction.
This is a good trade with a good risk/reward ratio

Entry approx. : 1248.8
SL: 1262
TP1:1225
TP2:1205
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