XAU/USD had broken over the 50 ema but wasn't able to hold on top of it.
It has now broken back under and we can expect the move to continue further lower.
You can put a pending order to short at 1189 just as it breaks its current support area.
The first TP would be at 1180
Second TP: 1175
Third TP: 1170
*If you agree with this analysis, please make sure to like! Your support is very appreciated.
Trade safe :)
It has now broken back under and we can expect the move to continue further lower.
You can put a pending order to short at 1189 just as it breaks its current support area.
The first TP would be at 1180
Second TP: 1175
Third TP: 1170
*If you agree with this analysis, please make sure to like! Your support is very appreciated.
Trade safe :)
Trade closed: stop reached
Comment:
Putting pending orders when we expect a breakout to happen can save a lot of money. In this case, had you put a pending order as I suggested at 1189, your order would've never got fulfilled and you wouldn't have lost money as the market went against you. You can trade with pending orders when facing situations like this one, in which, either directions are a possibility. You put your pending order at a price right where if it breaks it, the move continues.