Combining S/R with Elliott waves & Harmonic trading on XAUUSD
Hello fellow traders,
There is a nice short trade set-up forming on the Gold market.
Price need to get on the 1100$ area to complete a nice Butterfly pattern.
This area is converging with a good resistance level also.
The Elliott waves analysis show that we could be anticipating a final wave 5 ending on the 1000$ area.
The Risk/Reward on this trade could be 15:1 but it will all depend on the price action within the PRZ area.
Have a good trade.
"Suppose that this trade would be a loser and act accordingly with proper Risk management"
There is a nice short trade set-up forming on the Gold market.
Price need to get on the 1100$ area to complete a nice Butterfly pattern.
This area is converging with a good resistance level also.
The Elliott waves analysis show that we could be anticipating a final wave 5 ending on the 1000$ area.
The Risk/Reward on this trade could be 15:1 but it will all depend on the price action within the PRZ area.
Have a good trade.
"Suppose that this trade would be a loser and act accordingly with proper Risk management"
Trade active:
Sold @ 1100$
SL: 1107$
TP: 1010$
R/R: 12.8
SL: 1107$
TP: 1010$
R/R: 12.8
Trade closed: stop reached:
Stop-loss hit!