Technician
Short

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

FX:XAUUSD   Gold/U.S. Dollar
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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Technician
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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
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
Gold looks bullish.
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
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
Hello guys!... would you guys say that gold broke out to the upside already?... cheers!
Reply
Update: Stopped out
Profit = - $600.
Balance= 30,000-600 = 29,400.
+9 Reply
FXMONA Technician
Doesn't matter.. 98 remains.. :)
+1 Reply
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
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