Technician
Short

#Gold: Reactive Short

FX:XAUUSD   Gold / U.S. Dollar
3260 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
My trading ideas channel https://telegram.me/technician_forex_trades

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Skype: Technician - The forex channel
I agree that price should retrace, probably back to 1206 - 1212. Daily chart formed a bearish pin bar also support retracement scenario.
+1 Reply
Technician TOP vietnamgold
Yes mate, going well so far
-1 Reply
Tijmen_K Technician
Going very well Thank you technician
+1 Reply
yw
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Update; First Target reached.
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thank you technician excellent as usual
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Technician TOP manijeh.kazemi.33
Thanks manijeh, always love your comments
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made profit on the short thanks!
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Technician TOP OrhanAlparslan
Great mate.
-1 Reply
Nice work Tech, thank you. I would be very interested in your analysis of ZB
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Technician TOP smitheric1970
ZB?
-1 Reply
Ah sorry! 30 year US Treasury bonds futures.
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Well done, Was away for work, couldn't follow this one, but great as ever.
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Technician TOP HamedAghajani
Thx hamed
-1 Reply
I love your "7) Remember: Losing is a main part of the game " so much.
One question , " the more clear the pattern of divergence, the more effective is it " from you experience, do you agree with this statement. Thank you so much!
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Thanks.
My answer is No.
Moreover, divergences aren't good signals when the price is trending strongly, they usually fail. I use divergence as a complementary indicator.
-1 Reply
whtangsam PRO Technician
Got it and thank you. Followed.
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You're welcome :)
-1 Reply
Your website when it will be ready ?
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Thx for asking Gigu, hopefully by the start of July.
-1 Reply
Excellent forecast, thank u ;)
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You're welcome
-1 Reply
Hi Technician, just curious which moving averages you have used 1200 or 200?
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Hey mate, I used 200 DAYS moving average, which is the 1200 on the four-hour chart.
-1 Reply
bharatest Technician
Thank you
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That is really great that you have converted 200 Day SMA to same 200 on 4 hr chart. Can you explain maths behind that
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Second Target achieved as well :-)
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Yes my friend ashif :)
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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
Thanks tst. Been in a travel vacation for the past week, and glad to be back.
True what you said. I would love that everyone will know how to point out scammers after seeing this. This business is full of them.
When you hear words like, i am suggesting the different scenarios and you choose how to trade it, you know that its probably bullshit scam. Thats why i publish a big percentage of my ideas with precise targets and stop loss, there is nothing to be afraid of.
+1 Reply
agree :-)
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Hi technician welcome back
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Technician TOP manijeh.kazemi.33
Manijeh thanks.
-1 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?
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luismialcega luismialcega
https://www.tradingview.com/chart/sIoBCSJW/
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luismialcega luismialcega
snapshot
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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?
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Technician TOP luismialcega
Silver and gold is positively correlated
-1 Reply
Nice call
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