Selling at Today's High, Riding the Wave from Consolidation to R
Flag Formation Signals Potential Sell: Observing a flag formation in today's GOLD price movement, which suggests a probable selling opportunity.
Head and Shoulder Formation Potential: If the flag evolves into a head and shoulder formation, we could anticipate a significant sell-off.
Downside Target: Left Shoulder: The sell-off may extend down to the level of the left shoulder in the formation.
Execution Plan: Planning to enter a sell position when today's high is revisited. Setting a Stop Loss (SL) at yesterday's high to manage risk.
Room for Flag Formation: Recognizing that the flag pattern may still have room to develop, indicating potential consolidation in GOLD for some time.
Unpredictability of GOLD: Remembering that the market for GOLD can be unpredictable, but these observations point towards a potential selling opportunity.
Head and Shoulder Formation Potential: If the flag evolves into a head and shoulder formation, we could anticipate a significant sell-off.
Downside Target: Left Shoulder: The sell-off may extend down to the level of the left shoulder in the formation.
Execution Plan: Planning to enter a sell position when today's high is revisited. Setting a Stop Loss (SL) at yesterday's high to manage risk.
Room for Flag Formation: Recognizing that the flag pattern may still have room to develop, indicating potential consolidation in GOLD for some time.
Unpredictability of GOLD: Remembering that the market for GOLD can be unpredictable, but these observations point towards a potential selling opportunity.
Commentaire:
Trade active
Commentaire:
Gold standing on R1 ,, while DXY currectly about to break the trend line and may potentially reach 104.669
however if its not breached then Gold will get a rejection from here...Overall USD is strong ..and Gold should loose the steam
however if its not breached then Gold will get a rejection from here...Overall USD is strong ..and Gold should loose the steam
Trade fermée: ordre d’arrêt atteint
Sl is 1928.51
TP 1904.83
@ Risk 150$ .31 lot