Technician
Short

#Gold: Reactive Short

FX:XAUUSD   Gold Spot / U.S. Dollar
3266 40 45
Update: Full target hit
Update: First Target reached. Closed first half and moved stop loss to entry


Looking for a dip as the price failed to maintain trading above 1225.00 main horizontal resistance, while RSI showing a bearish swing failure divergence.

Good luck
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My best regards
Technician


Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game

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Nice call
Reply
WHTA DO YOU THINK NOW ABOUT GOLD? IS JUST AT THE SUPPORT. I THINK IF YOU LOOK IT IN 1D CHART, THERE IS JUST A CORRECTIVE MOVE.
SO, I THINK PRICE IS GOING TO BOUNCE AND GO UP AGAIN, IM NOT EXPECTING A RUPTURE OF THAHT SUPPORT TO GO DOWN.
WHAT DO YOU THINK?
Reply
luismialcega luismialcega
https://www.tradingview.com/chart/sIoBCSJW/
Reply
luismialcega luismialcega
snapshot
Reply
Technician TOP luismialcega
I cant speculate on where its headed next, here is the next support that i will be watching
snapshot
+1 Reply
luismialcega Technician
good. lets keep an eye on this! do you know any instrument which have a good correlation with gold?
Reply
Technician TOP luismialcega
Silver and gold is positively correlated
-1 Reply
Hi technician welcome back
Reply
Technician TOP manijeh.kazemi.33
Manijeh thanks.
-1 Reply
Nice trade, unlike others you have posted one scenario/direction with the stop/target tool which makes you right or wrong. A true Technician and profitable trader. Most people post ambiguous comments or statements that make them right regardless of where price goes and targets rarely hit.
+1 Reply
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