Good Opportunity to Short Trade XAUUSD in 4 Hr Timeframe.
Following ideas help develop a Short Trade Idea in XAUUSD 4 hr Timeframe.
1. Price respecting the upper line of the pitchfork drawn in pivots 0-1-2 (Black Line)
2. Price respecting the support line drawn in pivots 1-4 and extrapolated to pivots 3-5 (Blue Line)
3. Price respecting the inward frequency of proven supply zone at pivot 3 and showcasing strong selling
pressure in the upward wicks of the current candles (Red Line)
4. Bearish Divergence of Price with respect to RSI in pivots 3-5 (Green Arrow)
Entry for Short Trade: 1798
Stop Loss: 1813
Target : 1774
Note: This is for education purpose only. Trade at your own Risk.
1. Price respecting the upper line of the pitchfork drawn in pivots 0-1-2 (Black Line)
2. Price respecting the support line drawn in pivots 1-4 and extrapolated to pivots 3-5 (Blue Line)
3. Price respecting the inward frequency of proven supply zone at pivot 3 and showcasing strong selling
pressure in the upward wicks of the current candles (Red Line)
4. Bearish Divergence of Price with respect to RSI in pivots 3-5 (Green Arrow)
Entry for Short Trade: 1798
Stop Loss: 1813
Target : 1774
Note: This is for education purpose only. Trade at your own Risk.
Trade active:
S0 far... 1500 PIPS... Wow.. Going. going and going.
Comment:
In this Trade, Price almost reached our Target. Our Target was 1774 but price reached 1777, which is 30 pips less of Target. Yet we generated a profit of 2100 PIPS. Awesome.
Price now @ 1788. Going.. going and going..:)