XAUUSD - GOLD - Sell on Rally at obvious Resistance

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


But we never entered the trade right? Because the appointed resistance of 1316.60 was never reached?
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.
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...
DatTong Mabolo
@Mabolo, excellent
sell or buy?
DatTong AbhijithRadhakrishnan
@AbhijithRadhakrishnan, Read the description if you are not clear
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