Daniel-Malik
Short

XAUUSD - SHORT SETUP

FX:XAUUSD   Gold / U.S. Dollar
1061 30 28
After an Impulsive wave , A correction of Gold             is happening after that We will see a down move. Also Stoch is in over brought area and Price Volume divergence also found !
Comment: For the TPs of this trade, you can use Fib Ext. tool
Trade closed: stop reached
Daniel, where to you think the retracement will stop and bounce downward to our tp? -100ish pips now.
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Noobsnoot Noobsnoot
Actually not 100 pips but minus 1800 pips.
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Daniel-Malik Noobsnoot
its 170 pips now. but i told you to put SL above 0.618 which was hit, And SL are the part of game
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Noobsnoot Daniel-Malik
Yep, it stopped at 1345, tried to hold it but it just rallies up. What a loss. Where to now?
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Noobsnoot Daniel-Malik
any plan on this stage, dan?
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I see a 5 wave count completing at 1346-1350 before down move. Excellent analysis though.
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Been following you here and on Facebook group so learning from you. Noticed the reverse pattern on USDCAD and then came to know that you have also published the idea. :-)

Thanks for teaching.
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Really nice! Where do you advise to put stoploss? And for profit target you use fibo extention levels?

Thanks for your view on this.
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Daniel-Malik GatesOfCapital
I personally Dont use Stoploss. Instead of stoploss I use pending order but you can place your SL just above the 0.618 level. and yes for TP you can use fib. ext.
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waterman Daniel-Malik
' I personally Dont use Stoploss. ' Atlast I find somebody like myself who don't believe brokers.
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