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 ------------------------------------------------------------------------------------------------------------------------------------------------------------ twitter.com/thefxchannel facebook.com/thefxchannel plus.google.com/+Thefxchannel0 My best regards Technician
Comments
Technician
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I put a sell limit as shown on chart, at 1218.00
moneymaking
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Awesome thanks Technician, Good Luck :)
mustafa.kalia.1
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hello can u plz tell me where is strong buy level in gold for long term ???
mdbutz
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CAN YOU PLEASE CHOOSE IN GOLD ALSOW SIMBOLSE LIKE : ABX, GDX, GLD, GG...
MuathAlBulbul
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It's like you have a time machine! haha
Great work :D
moneymaking
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Hey technician, we didn't got filled in this setup, correct?
Technician
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yes, did'nt
moneymaking
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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?
Technician
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I closed half at the first target. The other half is still running