Technician
Short

Gold: Potential for a Dip !

FX:XAUUSD   Gold Spot / U.S. Dollar
3323 views
41
3323 17
Looking for a re-active bounce of resistance

The price hit a key horizontal resistance outlined on chart around 1222.00, formed a hanging man and attempting to close below the low of the candle and that would confirm a possible bearish move in my view. RSI is showing a negative divergence as well..

I will wait for the running four-hour candle to close below the low of the hanging man at 1216 to initiate my short limit order for a quick reactive reversal trade. I will update when active.

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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
hello can u plz tell me where is strong buy level in gold for long term ???
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CAN YOU PLEASE CHOOSE IN GOLD ALSOW SIMBOLSE LIKE : ABX, GDX, GLD, GG...
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It's like you have a time machine! haha
Great work :D
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Hey technician, we didn't got filled in this setup, correct?
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Technician moneymaking
yes, did'nt
-1 Reply
moneymaking Technician
For the EURAUD trade, I had long position open yesterday and before the 9:30 pm news I decided to exit with small profit and conserve my capital. Did you also closed your position or you still in?
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Technician moneymaking
I closed half at the first target. The other half is still running
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moneymaking Technician
Nice :)
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nice analysis
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Agree, i have a sunday gap on my MT4 platform, my idea is based on that
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