XAUUSD Short

4 thg 5, 2020

Broken Trendline and now Retested. Wicked into 61.8 Fib level and rejected perfectly. Respected third touch of descending trendline.

Should now retrace to 1670. Possibility of breakout to the upside so use small lot.

4 thg 5, 2020

Ghi chú

SL adjusted to 1725. Just above 0.786 region. Where my set up would be invalid. It is always important to give Gold especially space to breath. I have made this mistake many times. Where it has hit my SL aimlessly. RR @ 1:2

4 thg 5, 2020

Ghi chú

Confluences:
1) Trendline respected
2) 61.8 - 78.8 FIB region respected
3) Shooting Star candle formation on the 4H chart.
4) Previous Trendline break

If this reverses to the upside I'll be surprised and it will be a good learning curve. The only hesitation i have is the MAs need to crossover.

4 thg 5, 2020

Ghi chú

5) Lower Highs - Bearish

4 thg 5, 2020

Ghi chú

Psychological Level 1705 Broken and being retested. Next stage 1700

4 thg 5, 2020

Ghi chú

EMA 1HR Crossover. Looking good.

5 thg 5, 2020

Ghi chú

EMA 4HR Crossover.

5 thg 5, 2020

Ghi chú

Stop adjusted to 1715.5. RR 1:4

5 thg 5, 2020

Ghi chú

4 hourly close below psychological level 1700. Continuously testing this zone. Next 4H close will be interesting