XAU/USD bearish bias still in play, expecting some further downside target with tight SL.
Reason :
- Price retest and rejection on fib level 38.20%.
- Resistance area of 1235, double top formed.
- Tight SL trade.
- Potential to reach next support points :
Entry point Short : 1235 area ; TP1 : 1220, TP2 : 1215.50, TP3 : 1205 ; SL 1238.50
Risk Reward 1:4
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- Price retest and rejection on fib level 38.20%.
- Resistance area of 1235, double top formed.
- Tight SL trade.
- Potential to reach next support points :
Entry point Short : 1235 area ; TP1 : 1220, TP2 : 1215.50, TP3 : 1205 ; SL 1238.50
Risk Reward 1:4
Always remember to trade with stop-loss, market is crazy & cunning*
Trade closed: stop reached:
SL Hitted. Good try