simonepepita91
Short

Hanging Man Candle Stick on D1 chart

FX:XAUUSD   Gold Spot / U.S. Dollar
Here you have the HANGING MAN I was talking about in previous idea (see the link below)
Clear sign of trend reversal and historically classic movement for GOLD .
Wait for CONFIRMATION (big red bearish canle) in order to jump in as the price may go all the way down to the 23,60% Fibonacci level at 1251-1257.

GOOD TRADING TO ALL OF YOU
Jan 09
Comment: Even though the price is already going in my direction and I could have entered the trade at 1321-1322 easily, I still didn't open any position even if there is a very relevant confirmation of a reversal (hanging man+doji+beatish daily candle forming)......
I'm prudent and patient enough to wait for the price to break out important level which I believe is in the 1314-1316 area; once it breaks that, I will enter the trade targetng 1305-1306 first with relatevely high leverage and a small SL just above 1316.
Im open to suggestions :)
Jan 09
Trade active: SL 1320
TP1 1310
TP2 1307
Jan 09
Trade closed: target reached: 1st Tp at 1310 reached, second Tp at 1306
Jan 09
Trade closed manually: didnt feel comfortable with price action, closed at 1309.50 my second TP :)

succesfull trade !!!!
This idea is too crazy, this trend is unlikely, is not optimistic
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simonepepita91 Taoist_nature
@Taoist_nature, alright, may you be so kind to document your statement somehow ?
I'm open to any debate as long as they are documented or at least explained in details..... :)
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not so low, sell is killing yourself.
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@yplim2300, mmm I'm not sure if I got what you mean....
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nivelij01 simonepepita91
@simonepepita91, She's basically saying that it's not the right time to short sell. Check out all her comment and you'll find out that she is having a long bias for this instrument.
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@nivelij01, ohhh ok...the thing is that Im very bullish long term but short term instead, I think there will be a pull back before the uptrend explode and Im wait for confirmation in order to jump in, ready to change my strategy if something goes wrong anyway :)
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nivelij01 simonepepita91
@simonepepita91, I do agree with you personally. It is way to extended to the upside for Gold to have a significant retracement. But I can see the bull is getting exhausted and short term wise, I'm with you :)
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@nivelij01, EXACTLY....I'll wait for confirmation of a nice big red candle in D1 chart to jump in ;) just still working on TP and SL....any suggestion nivelij01 ???
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nivelij01 simonepepita91
@simonepepita91, I have opened short position for this pair. However, my TP is somewhere between 1300 level. I'm not really comfortable to have a TP even lower then that, as 1300 is around 38% retracement. I placed the SL at 1327. I opened the position at 1317. But then again, this is just my 2c. It can even go even lower then 1300. For me, I prefer to have a 1:1 R:R trade, makes my life much more easier :)
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@nivelij01, I completely understand your point even though I m even more prudent as Im waiting today daily candle to close in red for confirmation before opening short; I might enter tomorrow morning with high leverage targeting 1300-1305 too....let's see :)
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