Gold: Another Quick/Simple Short Attempt

FX:XAUUSD   Gold Spot / U.S. Dollar
1613 9
Update: Reached First target, Cancelled Trade.

Gold hit descending resistance , where price was rejected, lets try to short the strongly trending market one more time.
I placed a short limit at 1230.00, target one at 1216.00 and target two near the latest low at 1208.00. Stop loss at 1240.00

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game


Reached First target, Cancelled Trade,
+1 Reply
Perfect, as usual!)
+1 Reply
Technician alexeyhoroshunvk
Thanks :)
thanks for this post
+1 Reply
it's about 1200 now, any update on $GOLD?
both targets were reached without triggering entry, alas... good analysis
technician I closed position at 1210 but I tthink there is still aloss at 1200 for today
thank you
Maybe Break LTB, up to 1250. after this, pull back for test line and go to 1270. After 1270 back to 1200.
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