Looks like a potential double top, with a 4h reversal bar. Short if low of 4h reversal bar breaks.
Short: 1199
S/L: 1210
TP 1: 1185
TP 2: 1150
Short: 1199
S/L: 1210
TP 1: 1185
TP 2: 1150
Comment:
The 4h reversal bar never broke, instead gold went higher. Gold is still in the pitchfork range, but the 1210 level was supposed to act as a resistence level. I will be waiting for any type of PA before putting my order.
Comment:
Gold broke its shortterm trendline and re-tested that trendline (16-12-23 to 2017-01-18).
Short: 1197 (when it breaks)
SL: 1207
TP 1: 1185
TP 2: 1165
Short: 1197 (when it breaks)
SL: 1207
TP 1: 1185
TP 2: 1165
Trade closed: stop reached:
Loss 10 pips, could still go down though. Just poor choice of entry and S/L from me.