TradingStat

GOLD: False breakout and fall

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold has broken through the resistance of the global downtrend channel . I suppose that after the distributive movement, consolidation is formed at the level, we are waiting for further reaction, I expect the price to drop to the support level of the local ascending channel .

Comments

It will test 1960 first. Put tight SL if selling
+1 Reply
Wonderful technical set up!🦐
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What is your rule for stop placement?
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