GOLD Short Trade (XAUUSD) *FIBONACCI & TRENDLINE*
After the successful short trade on gold last month I am now looking to short the precious metal again at the $1308 level.
Price has made a lower high and is now approaching the descending trendline along with the Fib 0.618 level at $1308.
Stop Loss is placed around 50 pips above entry with a profit target at the Fib 1.27 extension level around $1270
Price has made a lower high and is now approaching the descending trendline along with the Fib 0.618 level at $1308.
Stop Loss is placed around 50 pips above entry with a profit target at the Fib 1.27 extension level around $1270
Comment:
Awaiting price to reach $1308 before entry. This is where the main resistance is.
Trade active
Comment:
Strong bearish momentum entering the market now
Trade closed: target reached
