Gold - Bearish Shark at top of Channel
Hey guys, some sharing on Gold and how I will trade it.
The blue channel is drawn on the H4 chart, it is a channel that has been respected for months.
I saw a bearish shark completing on gold with the entry around 1350.
SL will have to go above 1355 with profit targets back down at around 1315.
Monitor these criteria before entry for a higher probability trade
1. RSI divergence and overbought at entry zone
2. Candlestick reversal (Pin bar or bearish engulfing pattern)
Take care and great trading guys!
The blue channel is drawn on the H4 chart, it is a channel that has been respected for months.
I saw a bearish shark completing on gold with the entry around 1350.
SL will have to go above 1355 with profit targets back down at around 1315.
Monitor these criteria before entry for a higher probability trade
1. RSI divergence and overbought at entry zone
2. Candlestick reversal (Pin bar or bearish engulfing pattern)
Take care and great trading guys!
Order cancelled:
Price did not hit entry zone, trade invalidated.