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XAUUSD Gold Potential Short Opportunity Update: TP4 Reached 2600 pips

XAUUSD Gold Potential Short Opportunity

Published: 07-16-2018

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

Accuracy: %90

Trade: Short

Entry: 1241

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

 

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