XAUUSD - POTENTIAL SHORT ENTRY POSITION
This is a trade idea for XAUUSD from my view as per current price. It seems like the chart would form a Head and Shoulder Pattern in H4 timeframe. Almost there actually but we still may need a confirmation first before decided to go for short or long. There are 2 scenario here.
Based on Scenario 1, price would go to the neckline and it may reject the price and we might go for a long entry. Meanwhile for Scenario 2, candle will form HNS pattern and break the neckline, so, we just need to wait for a lil bit retracement from the neckline and we can short straight away. If HNS successfully formed, 1848 price is a must.
Trade Idea : Short
Price : Short Now or Wait for break the neckline
Take Profit : 1848
Stop Loss : 50 Pips
Disclaimer!
This analysis does not give traders any confirmation on trading execution! It is for educational purposes only. You can refer this analysis and outlook for trading idea but trade at your own risk and trust your analysis first! Thank you and good luck for everyone!
Based on Scenario 1, price would go to the neckline and it may reject the price and we might go for a long entry. Meanwhile for Scenario 2, candle will form HNS pattern and break the neckline, so, we just need to wait for a lil bit retracement from the neckline and we can short straight away. If HNS successfully formed, 1848 price is a must.
Trade Idea : Short
Price : Short Now or Wait for break the neckline
Take Profit : 1848
Stop Loss : 50 Pips
Disclaimer!
This analysis does not give traders any confirmation on trading execution! It is for educational purposes only. You can refer this analysis and outlook for trading idea but trade at your own risk and trust your analysis first! Thank you and good luck for everyone!
Trade active:
RUNNING 560 PIPPSSS!!! THIS IS INSANEEE