XAUUSD Gold Potential Short Opportunity
Pair / Instrument: XAUUSD GOLD
Time Frame: H1
The trend in the Timeframe: NEUTRAL
The trend in the Daily Chart: BEARISH
Description: Gold can not make its recovery despite of falling DXY. US Retail sales will be released in 5 minutes. A better than expected data may push the prices lover. Bearish Flag breakout
Trade Based On: Bearish Flag
Stop Loss: 1.246
Take Profit 1: 1236
Take Profit 2: 1229
Extended Target 1: 1218
Extended Target 1: 1215
Extended Target 1: 1211
Notes: Wait for the US Data.
Update: TP1 Reached. We close 30% of the positions and move SL to entry…Safe Trade…
Update: TP2 Reached. We move our SL to 1236.
Update: 1215 has been reached. We wait for 1211.
Link to follow the chart and idea: GOLD TRADE IDEA
Rules To Keep In Your Mind: Trade Safe. Money Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money