Update: Reached First target, Cancelled Trade.
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Gold hit descending resistance , where price was rejected, lets try to short the strongly trending market one more time.
I placed a short limit at 1230.00, target one at 1216.00 and target two near the latest low at 1208.00. Stop loss at 1240.00
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game
-----------------------------------------------------------------------------------------------------------
Gold hit descending resistance , where price was rejected, lets try to short the strongly trending market one more time.
I placed a short limit at 1230.00, target one at 1216.00 and target two near the latest low at 1208.00. Stop loss at 1240.00
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
==================================================================
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game
