DatTong

XAUUSD - GOLD - Sell on Rally at obvious Resistance

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
- Gold made Head & Shoulder pattern yesterday and now broke down
- Sell on any corrections from current level to follow the momentum
Comment: Price moved
Trade closed: target reached

Comments

But we never entered the trade right? Because the appointed resistance of 1316.60 was never reached?
Reply
DatTong Mabolo
@Mabolo, It depends on how you read, most important things is trend, second is timing to enter that trend. In the structure like this, there are variety of ways to follow this downtrend, I just drew the most practical way of trading, it's not the only way to distinguish that price broke out from the critical previous low to follow with it.
Reply
Mabolo DatTong
@DatTong, ok. Thank you for explaning. So I could have entered arround 1312,76 for the sell if I read it correct. With my stoploss at 1314.81 ish...
Reply
DatTong Mabolo
@Mabolo, excellent
Reply
sell or buy?
Reply
DatTong AbhijithRadhakrishnan
@AbhijithRadhakrishnan, Read the description if you are not clear
Reply
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