XAUUSD Quadrupel Top on the 4h. Short Setup!

Hy traders!

Please check the screenshot carefully. Gold looks like it cannot rise higher as for now, indicated by the 4 tops which I marked in the charts.

I also would like to highlight to check the upwards trendline and the orange intraday trendline which needs to be broken, before considering an entry.

Entry on the breakout for a higher risk trade or just wait for a Pullback!

Great trading opportunity with a large RRR of a 1:3 - 1:5, depending on your SL!


Good luck!

Comment:

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DISCLAIMER (read it please):
Never ever consider a trade without an education and always use a STOP LOSS to protect your account at all costs! Never ever use a mental STOP LOSS! You should also have a strict money management system in place, which allows you to trade with only a 1% Risk for each trade you take! If you are a beginner, you should trade with only 10USD Risk maximum and continue until you have gained the skills and proved yourself to be profitable over a longer period of time!!!

Trade active:

Price bounced from the trendline. Wait for the trendline to break to consider an entry Short!

Trade active:

Price action right at the trendline. Will it hold? Prepare for an entry Short if not!

Good luck!