An UPDATE Regarding the Last Post on XAUUSD:
I forgot to add the reason to the last analysis which i wrote on XAUUSD so I publish a new idea because I'm not a paid user to add the link to the post. By the way the reason to this analysis is these two SSNR which you can draw on Daily time frame. These line Really Matter. I write the old post context in the below for those who didn't see the last post on #XAUUSD
Last Post :
Condition 1: Bearish Movement
If the price movement indicates a bearish trend, we can consider entering a short position between the entry points of 1940-1939 after a pullback. Our first take profit level (TP1) could be set between 1910-1905, while TP2, which serves as a target rather than a fixed TP, could be in the range of 1865-1860. It is crucial to identify a logical level as the stop loss (SL) to manage risk effectively.
Condition 2: Bullish Breakout
In the event of a bullish breakout above the 1905-1910 level, we should exercise caution and wait for a retracement before considering a short position. Once the price retraces to the range of 1953-1951, we can enter a short position. The same set of take profit levels mentioned earlier (TP1 and TP2) can be employed. It's important to adhere to a logical SL level to protect against potential losses.
Please note that given the current downtrend, it is advisable to avoid initiating long (buy) positions during these days. Corrections in a downtrend may provide opportunities for short positions.
Remember to conduct your own analysis and adapt the strategy based on market conditions. Trade wisely and use proper risk management techniques.
#XAUUSD #ShortPosition #BearishTrend #TakeProfit #StopLoss #TradingView
I forgot to add the reason to the last analysis which i wrote on XAUUSD so I publish a new idea because I'm not a paid user to add the link to the post. By the way the reason to this analysis is these two SSNR which you can draw on Daily time frame. These line Really Matter. I write the old post context in the below for those who didn't see the last post on #XAUUSD
Last Post :
Condition 1: Bearish Movement
If the price movement indicates a bearish trend, we can consider entering a short position between the entry points of 1940-1939 after a pullback. Our first take profit level (TP1) could be set between 1910-1905, while TP2, which serves as a target rather than a fixed TP, could be in the range of 1865-1860. It is crucial to identify a logical level as the stop loss (SL) to manage risk effectively.
Condition 2: Bullish Breakout
In the event of a bullish breakout above the 1905-1910 level, we should exercise caution and wait for a retracement before considering a short position. Once the price retraces to the range of 1953-1951, we can enter a short position. The same set of take profit levels mentioned earlier (TP1 and TP2) can be employed. It's important to adhere to a logical SL level to protect against potential losses.
Please note that given the current downtrend, it is advisable to avoid initiating long (buy) positions during these days. Corrections in a downtrend may provide opportunities for short positions.
Remember to conduct your own analysis and adapt the strategy based on market conditions. Trade wisely and use proper risk management techniques.
#XAUUSD #ShortPosition #BearishTrend #TakeProfit #StopLoss #TradingView
Trade closed: target reached
