MAJOR XAU/USD (GOLD) POTENTIAL SHORT!
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Fundas - I see the only near term possible catalysts for a gold breakout as a US stock market breakdown of February lows with force or a significant change in the tone on trade wars from China's President Xi ( as President Trump has already laid out his stance). Given Xi's amicable approach on Monday night it seems highly unlikely. I also anticipate a US stock market push near to Feb lows and bounce back into range. This would bring sellers back into gold
Techs - Gold showing a daily range with a top of 1366 and lows of 1301. So therefore, I will give Gold the chance to make its move to the top of the range and jump in with the seller supply over 1350. The SL would be over the highs incase of a breakout at 1367.50 and would be looking for a ride down to the lower section of the range adding to my winning positions. This could be a choppy trade as gold can be sometimes but should yield good r/r.
Techs - Gold showing a daily range with a top of 1366 and lows of 1301. So therefore, I will give Gold the chance to make its move to the top of the range and jump in with the seller supply over 1350. The SL would be over the highs incase of a breakout at 1367.50 and would be looking for a ride down to the lower section of the range adding to my winning positions. This could be a choppy trade as gold can be sometimes but should yield good r/r.
Dagangan aktif
Started in Short as per plan 1357.75 entry
Dagangan ditutup secara manual
The trade was closed at my adjusted stop loss of 1350 locking in 7+ points of profit. Not ideal, but always protect profit and capital in accordance with your process.
Penafian
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