XAUUSD short setup

I know this trade looks a bit risky and less profitable as the risk-reward ratio doesn't seem great. However, if you manage your risk, this shouldn't be a problem. Market is volatile and I have seen some short opportunity for XAUUSD

Here's how I'm planning to trade this setup. I will enter 2 short sells at the same time. Stops will be the same. After I hit TP1, I'm going to move my second stop-loss to a few pips below the break-even. I don't want to pay for the spread and for the commission. It's a losing trade after all.

If I see that the price goes all the way up to 1332.70, I will add same size of lots with same stop-loss. However, I will also send a sell-limit order in advance.

Short XAUUSD - 2 equal lots at the beginning of the day/week + add 1 equal lot sell-limit order at 1332.70 with same SL and TP = TP2
Risk: 1% of my account balance for each lot (3% in total)
Current price: 1328.06
SL: 1337.80
TP1: 1320.40
TP2: 1313.40

Disclaimer: This is not financial advice. Trade at your own risk

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Trade safe,
Atilla

Trade active:

I have canceled my limit sell as i have missed by 10 points (1 pips).
And I have recently closed my positions at 1324.88

However i will still track this. I may step in if i see a pb

Comment:

First initial target hit

Trade closed: target reached:

Both targets reached