Gold: Short - W/C 07 July

TVC:GOLD   CFDs on Gold (US$ / OZ)
259 5
Gold: Short week commencing 07 July - 11 July
Fair Head and Shoulders pattern forming, starting in March: right shoulder currently peaking lower than left shoulder, and downward sloping neckline suggests sellers have continously taken over the market from buyers. Potentially brake through the neckline and continue falling.
Risk/Reward Ratio - 2%, Position enter around - 1258.40, SL - around 1271.24, Target - around 1233.16+


Looks good guy, why not extend the take profit ?
Maybe split the trade in two with two different targets?
+2 Reply
ShaunBC khaim
@khaim, interesting, will open a couple positions.
DAHANX khaim
@khaim, probably bounce back and bullish at the TP zone? Why not further down?
khaim DAHANX
@DAHANX, I hear that, however a viable TP would be (from speculation) 1242.53 as that looks to be a stronger support than at the current TP. If prive were to bounce back anywhere before continuing a decent, it would most likely be here.
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