XAUUSD DOWNTREND ANALYSIS 8 - 12 OCTOBER 2018

DOWNTREND
PREVIOUS SWING HIGH - 1266.023
PREVIOUS SWING LOW - 1160.324
BROKEN STRUCTURE - 1191.820
PREDICTION: 1184.679 - 1160.324
NEXT SUPPORT - 1191.820
LOOK FOR SHORT ENTRY REASONS ON SHORTER TIME FRAME
ONLY PLACE TRADE IF RISK TO REWARD IS <1
STOP LOSS: .618 RETRACEMENT
TAKE PROFIT 1: .382 RETRACEMENT
TAKE PROFIT 2: .236 RETRACEMENT
TAKE PROFIT: 1175.00
KEEP IN MIND RSI AND MACD ARE CONVERGING BULLISH
PLACE STOP LOSS TO BREAK EVEN WHEN PRICE HIT'S FIRST TARGET
LOOK OUT FOR ECONOMICAL EVENT'S
THIS IS JUST MY ANALYSIS IT COULD BE RIGHT OR WRONG.
PLEASE LEAVE POSITIVE FEEDBACK, CRITICISM, YOUR THOUGHT'S AND YOUR IDEAS
lIKE IF YOU FOUND THIS USEFUL AND FOLLOW ME FOR MORE IDEAS - I WOULD REALLY APPRECIATE IT
GOOD LUCK, TRADERS

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Target 1 and 2 is reached