Technician
Short

(J) Trade 2 : Following Short term trend #Gold

FX:XAUUSD   Gold/U.S. Dollar
5957 99 169
Update: Stopped out
Profit = - $600.
Balance= 30,000-600 = 29,400.

==================================================================
Trade 2: Pending Short XAUUSD             @ 1180.00
S.L @ 1186.00
T1 1171.00
T2 1163.00

For 30,000 Capital, and 2% risk per trade=$600, Position size = 1 lot ( 0.5+0.5)

==================================================================

Reasoning:
  • Short term trend down, lower highs and lower lows.
  • Price is trading in a falling channel
  • Retested areas near the top of the channel and 1180.00 horizontal resistance
  • Price printed long legged doji candle at that resistance.

Wish me luck and best of luck for everyone.
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For Trades rules and guidelines follow this link
Journey to 100 Trades: Rules and Guidelines #forex


My best regards
Technician
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FXMONA
2 years ago
thanks technician.. I am already short from 1182
Reply
YuzukiChan
2 years ago
Another reason to go short: Five wave down, three wave up...
+5 Reply
Tijmen_K
2 years ago
nice one! good luck tech!
Reply
bilk29
2 years ago
gud luck..thank you
Reply
Technician TOP
2 years ago
Thanks.. Good luck
+1 Reply
gytn25
2 years ago
doji is also few pips away from 0.618 retracement :)
Reply
Delusion
2 years ago
Do agree this time :D
thanks and good luck :)
Reply
Kalahari
2 years ago
Placed a pending short @1195 and TP @1171.
Reply
Prome PRO
2 years ago
Thanks Technician to share your ideas!
how do you count your trades? I mean, if a trade is cancelled because it didn't trigger the entry, you count this as a "trade" in your "100 trades journey"?
:)
Reply
Technician TOP Prome
2 years ago
YES :)
+1 Reply
tradingjoe
2 years ago
Thank you so much for sharing (-:
Reply
tcas
2 years ago
very reasonable trade. but i'm in buy. just due usd is weak for a while.
Reply
RafaelAlvarez
2 years ago
Looking at the graph and the last hour of trading, why don't you decide to enter in the current price, if the reasoning looks coherent, the movement maybe already started.
Reply
Technician TOP RafaelAlvarez
2 years ago
Due to risk exposure, risk/reward
+3 Reply
Tijmen_K Technician
2 years ago
I want to Thank you for all your answers on questions that people have. Im learning so much cus of your answers!
+1 Reply
Technician TOP Tijmen_K
2 years ago
yw :) happy to help
+2 Reply
Hi Technician, Your charts are great. People actually getting live lessons here. Very nice of you. Thanks for sharing your trade ideas. I am already short on this Instrument from yesterday. Let's see how it will go .
Reply
Technician TOP One_Trade_A_Day_777
2 years ago
Thanks, good luck to you
+2 Reply
mikebod PRO
2 years ago
A second upper channel line also connects the May 22 and June 3 highs. Thanks.
Reply
ashif030
2 years ago
Done...
Reply
Technician TOP ashif030
2 years ago
ashif my friend, whats done?
+2 Reply
ashif030 Technician
2 years ago
Is it active?
I placed pending order :-(
Reply
Technician TOP ashif030
2 years ago
I placed a pending order too :D
+2 Reply
ashif030 Technician
2 years ago
pending order done.....
that I said :-)
many thanks for sharing
+1 Reply
Technician TOP ashif030
2 years ago
gl
+2 Reply
anthony.pham00
2 years ago
agreed!
Reply
anthony.pham00 anthony.pham00
2 years ago
snapshot
+1 Reply
ashif030
2 years ago
trade is active ;-)
Reply
anish_206
2 years ago
active
Reply
Andyle
2 years ago
Trade was activated. Gud luck everyone
Reply
kmk.msp
2 years ago
Trade is active. Have a lot of green pips for everyone who joined.
+2 Reply
Tijmen_K
2 years ago
Im in the the trade also ;)
Reply
gncdnl
2 years ago
I not agree with you. I am sorry but gold will be 1197
+1 Reply
gncdnl gncdnl
2 years ago
SL reached
+1 Reply
Tijmen_K
2 years ago
Sl reached.
+1 Reply
TahirAli Tijmen_K
2 years ago
No its still few pips away.
+1 Reply
anish_206 TahirAli
2 years ago
so close
Reply
TahirAli anish_206
2 years ago
Yes.
Reply
ashif030 TahirAli
2 years ago
right Tahir
Reply
Tijmen_K ashif030
2 years ago
Hmm my trade closed @ 1.8602?? Weird...
Reply
Tijmen_K Tijmen_K
2 years ago
118602 ofcourse..
Reply
TahirAli Tijmen_K
2 years ago
Its strange as I have set a stop loss @1186.00 and it never got triggered.
Reply
anish_206 TahirAli
2 years ago
It didnt touch 1186.00 so far
Reply
ashif030 anish_206
2 years ago
yes... right anish
Reply
TahirAli ashif030
2 years ago
Yes right.
Reply
Tijmen_K TahirAli
2 years ago
Very strange... I had my sl on 1186 too. But if i see on the chart it never reached that point.. I dont know what happend :(
Reply
TahirAli Tijmen_K
2 years ago
Call your broker.
+1 Reply
Tijmen_K TahirAli
2 years ago
Yes i Will!
+1 Reply
Tijmen_K Tijmen_K
2 years ago
Back on the trade now lets hope for some profits ;)
+1 Reply
TahirAli Tijmen_K
2 years ago
Good luck.
+2 Reply
Tijmen_K TahirAli
2 years ago
You 2 friend
+2 Reply
TahirAli Tijmen_K
2 years ago
Thanks.
+2 Reply
ajujohn Tijmen_K
2 years ago
Which broker you use? If its FXPRO they have a difference of .35 than the chart price...
Reply
Tijmen_K ajujohn
2 years ago
i use plus500.. hope this isnt a bad broker. what do you guys think.. not happy with that to early STOP loss back there..
Reply
Kalahari Tijmen_K
2 years ago
plus500 is a market maker broker ... not a very good broker. I'll suggest you change to a professional broker.
+3 Reply
Tijmen_K Kalahari
2 years ago
What broker do you recommend?
Reply
No_more_Post
2 years ago
GBPUSD



I think the price is going to break out in up trend, However I will wait to buy at the pull back with confirmation of strong demand zone.
Reply
No_more_Post No_more_Post
2 years ago
GBPUSD

TP for GU +60pips
-10 Reply
Casey_Yeo No_more_Post
2 years ago
What's the purpose of posting this on other people's idea thread? Publish your own trade idea mate instead of on other's post.
+3 Reply
Technician TOP Casey_Yeo
2 years ago
Thanks Casey, its really frustrating...
+2 Reply
QuantitativeExhaustion PRO Casey_Yeo
2 years ago
i disagree. If someone else has a opinion that differs than the author they can post freely without ridicule. That's what TradingView is all about.
+2 Reply
Casey_Yeo QuantitativeExhaustion
2 years ago
If you care to look carefully, my comment is in 'reply' to the GBPUSD chart. So please enlighten me as to how this GBPUSD chart provides a differing view than the author of this XAUUSD idea post?
+2 Reply
QuantitativeExhaustion PRO Casey_Yeo
2 years ago
I can't defend KungsomTrader, thought he was posting a Gold chart. Now I see he's advertising his idea here that is not related to gold.
+3 Reply
QuantitativeExhaustion PRO No_more_Post
2 years ago
If everyone voted negative votes for users who post unrelated charts, they would probably stop doing it.
+4 Reply
Technician TOP QuantitativeExhaustion
2 years ago
True
+3 Reply
whisally
2 years ago
Still active:) ... and what's your opinion about LONG term?
Reply
LuigiFX
2 years ago
Hello Technician, thanks for sharing your trades.
I have started to follow the journey, and had a pat yesterday. Fine that it did not turno into red pips.

I am now looking at the XAUUSD setup (1D chart). At the moment, I see PA is nicely sitting in a descending channel, however, I have noticed that within the descending channel PA goes up with an increasing angle. This bodes for a higher probability for PA to break up, rather than remain in the channel. Consequently, PA may hit the SL with a higher probability than anticipated.

In addition, CC(20), MACD(12,26,9) and STOCH(10,6,3) are pointing north at this time (11:12 CET).
May be it's a good idea to find an appropriate level for scratching the trade?
+2 Reply
stragaw
2 years ago
sl ((
+1 Reply
PhilippeDelvigne stragaw
2 years ago
same :) Hesitating between re-entering in position, or waiting for price going down to R1 (around 1182)
Reply
Kalahari
2 years ago
I didn't take the suggested entry position but rather placed a pending short @ 1196.77 because the uptrend is too strong at the moment.
+2 Reply
gncdnl Kalahari
2 years ago
I not agree with you. I am sorry but gold will be 1197
''2 hours ago''
+1 Reply
LuigiFX
2 years ago
No problem. Losses are part of trading.
The risk was defined so we knew what was at stake, and it was our choice whether or not to put up the trade. This is valuable info for us.
There is soon going to be another trade.
Let's move forward.
+5 Reply
Tijmen_K LuigiFX
2 years ago
Excacly
+1 Reply
andrein
2 years ago
if i'm late entering the trade and now is past SL, what do you recommend, should I still enter if trend is broken ?
+1 Reply
Roncriss
2 years ago
SL triggered, do we do long ? or wait again and go short?
+1 Reply
ZarNegar
2 years ago

snapshot
+1 Reply
No_more_Post ZarNegar
2 years ago
Do u really like?
Reply
ImranIshaq
2 years ago
Is this buy then?
Reply
najibmulik
2 years ago
Good analysis but SL proved to be too small
+1 Reply
sudersanrao
2 years ago
Gold:Chicago 10.30am: Resistance@1190.35 Now Inside Red Candle Running 1188.00. Another 1.30hrs for this Candle to Close. Can we sell at 1183.80 when it crosses the Mother Candle down? Awaiting ur Guidance. Thx Sudersan Rao.
+1 Reply
Technician TOP
2 years ago
Update: Stopped out
Profit = - $600.
Balance= 30,000-600 = 29,400.
+9 Reply
FXMONA Technician
2 years ago
Doesn't matter.. 98 remains.. :)
+1 Reply
Technician TOP FXMONA
2 years ago
Thanks, i am not annoyed at all by this loss. Am annoyed by the EURNZD trade stopping me at break-even before heading to my targets :). Anyway, some ppl made some profits and thats make it easier on me :D
+4 Reply
ashif030 Technician
2 years ago
SL is the part of FX...... :-)

any update on Gold?
Reply
Technician TOP ashif030
2 years ago
I just woke up, i will look at market in a bit and hopefully we will get something nice soon.
+6 Reply
FXMONA Technician
2 years ago
We are waiting for you. :)
+2 Reply
FXMONA Technician
2 years ago
EURNZD price going down now. If it didn't hit stop loss then first target already been hit. :D
Reply
patrick.camilleri Technician
2 years ago
annoyed about that too, but anyways that's just the cost of sales of doing this kind of business. as long as the return after 100 trades is positive then great. 98 to go, good luck.
Reply
ashif030 FXMONA
2 years ago
exactly :-)
Reply
sudersanrao Technician
2 years ago
Thanks a Lot. As I am New , how do I Catch ur Next Trade. Is there facility to get a Text or E-mail. Pl Guide. Thx. Rao
Reply
Technician TOP sudersanrao
2 years ago
You can follow me here at tradingview, after following me you will receive notification for my publications in the right hand side bar(bell icon). AND also you will receive email notifications.
+5 Reply
sudersanrao Technician
2 years ago
I am already Following . Thx. Rao
Reply
QuantitativeExhaustion PRO Technician
2 years ago
what really amazes me is the difference with gold / silver recently. Silver is not following the same path as gold. Are we getting near a little bit longer term swing/position trade in Silver?
Reply
alexfa
2 years ago
Hello guys!... would you guys say that gold broke out to the upside already?... cheers!
Reply
I think this is a great idea in general, but it's a bit interesting how everybody is so negative gold. As we seen with the SNB in Jan, BOJ last night, and the potential catastrophe with the Fed, gold is fundamentally bullish and until real growth absent central banks become apparent, gold will be supported.
+1 Reply
Technician TOP CommoditiesTrader
2 years ago
I am long term bull on gold. But as you can see, that was an intraday quick short, based on technicals.. Anyway, i am satisfied with the outcome because what matters for me is the process.
Thanks
+5 Reply
TahirAli
2 years ago
Gold looks bullish.
Reply
anthony.pham00
2 years ago
man your a legend..i like how u show you position sizing..soemthing i get stuck on for different trades sometimes
+3 Reply
Technician TOP anthony.pham00
2 years ago
Wow, a legend :D , this is too much. Thanks so much.
Hope i can end the journey with some profits, which is our ultimate goal .
+1 Reply
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