Technician
Short

Gold: Possible Reactive Bounce!

FX:XAUUSD   Gold / U.S. Dollar
3059 15 26
I am looking for a short-term setback here as the price was rejected noticeably of the 50-days SMA and near the 50 percent retracement level. Stochastic enters overbought region.

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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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1 like so far...good.
Reply
Technician TOP IvanLabrie
:) , more like less success ?
-1 Reply
IvanLabrie PRO Technician
Less likes, more success...
+2 Reply
just thought the signal on silver looks better - pin bar at 61.8% fib + resistance zone.
snapshot
Reply
Yep noticed silver as well..
-1 Reply
IvanLabrie PRO Technician
Gold has a straight, no base rally...Silver has more signs of accumulation in the background.
+1 Reply
Casey_Yeo IvanLabrie
Great observation. What I'm seeing is false break of the consolidation earlier this week and resistance.
The big bullish candles from last week could be obstacles for shorts.
Reply
It's a tough call considering the equity situation...Let's see what happens tomorrow, if we see a nice move under the highest low, that'd confirm this trade for me.
I think dollar rally next:
DXY: Dollar correction timer expires today
+1 Reply
I was buy gold 3pip @1213, but i dont what i do, wati or sell? Please help me
Reply
a potential HS
snapshot
+1 Reply
Technician TOP jangseohee
No valid one in my view mate
-1 Reply
jangseohee Technician
ok
+1 Reply
Yahia.Awes jangseohee
Remember that one when I saw it they said I'm crazy :D
Reply
Reached beyond first target, will wait for new signals for now..
-1 Reply
Yahia.Awes Technician
The eurusd pair is trading above the 1.1 now, so I think it is going to open a bit higher than 1210 monday...
Reply
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