Here we have a XAUUSD Sell setup for 155 pips. We have Gold respecting 1550.60 multiple times and its looking like it will break below. The next zone would be 1538.68
Gold is currently in a bear flag within the bull flag on the daily and weekly chart.
Gold has rejected the top edge of the bull flag several times and once again.
We are looking to break the bear flag first before we look to break the bull flag.
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Retest of trendline complete and overall bearish bias. I entered at 1466 and have a tight stop loss at 1468.
TP is at 1447 but feel free to take profits at any time.
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Now if a trader ever tells you that they have never blown an account punch them in the face! When I 1st started out I blew around £10,000 because I thought I knew best and didn't listen to anyone's advice... I learnt the hard way! Do you want to learn a 10k lesson? thought not haha.
On my journey I had to cut ties with lots of friends and family because they...