Technician
Short

Gold: Possible Reactive Bounce!

FX:XAUUSD   Gold/U.S. Dollar
3052 15 25
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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My best regards
Technician
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IvanLabrie
2 years ago
1 like so far...good.
Reply
Technician TOP IvanLabrie
2 years ago
:) , more like less success ?
-1 Reply
IvanLabrie Technician
2 years ago
Less likes, more success...
+2 Reply
Casey_Yeo
2 years ago
just thought the signal on silver looks better - pin bar at 61.8% fib + resistance zone.
snapshot
Reply
Technician TOP Casey_Yeo
2 years ago
Yep noticed silver as well..
-1 Reply
IvanLabrie Technician
2 years ago
Gold has a straight, no base rally...Silver has more signs of accumulation in the background.
+1 Reply
Casey_Yeo IvanLabrie
2 years ago
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
IvanLabrie Casey_Yeo
2 years ago
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
Sakil Mah
2 years ago
I was buy gold 3pip @1213, but i dont what i do, wati or sell? Please help me
Reply
jangseohee
2 years ago
a potential HS
snapshot
+1 Reply
Technician TOP jangseohee
2 years ago
No valid one in my view mate
-1 Reply
jangseohee Technician
2 years ago
ok
+1 Reply
Yahia.Awes jangseohee
2 years ago
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
2 years ago
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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