FXbrawler
Short

XAUUSD - Gold Short opportunity

OANDA:XAUUSD   Gold Spot / U.S. Dollar
We have an ab=cd pattern mixed with a previous important resistance. I am expecting a bounce here and will enter with shorter time frame confirmations.
Comment: We started breaking down but the price has been holding for a long period of time at the highs. I took half my profits and moved my stop loss to breakeven in case it reverses. Risk free trade.
Trade active: We just had a little bulltrap to confirm the exhaustion of the up trend. Shorting.

Comment: We just broke an important trend line. A good sign for continuation.
Trade closed manually: Bailing out
Which TP do you envisage?
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FXbrawler fhsk2001
@fhsk2001, First tp is 1336, the rest I will look at price action for the exit. There is a lot going on in the world right now that can affect the fundamentals so I am leaving my options open for now.
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