Following ideas help develop a Short Trade Idea in XAUUSD 4 hr Timeframe.
1. Price respecting the upper line of the pitchfork drawn in pivots 0-1-2 (Black Line) 2. Price respecting the support line drawn in pivots 1-4 and extrapolated to pivots 3-5 (Blue Line) 3. Price respecting the inward frequency of proven supply zone at pivot 3 and showcasing strong selling pressure in the upward wicks of the current candles (Red Line) 4. Bearish Divergence of Price with respect to RSI in pivots 3-5 (Green Arrow)
Entry for Short Trade: 1798
Stop Loss: 1813
Target : 1774
Note: This is for education purpose only. Trade at your own Risk.
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What an accurate short entry @ 1798.
Price now @ 1788. Going.. going and going..:)
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S0 far... 1500 PIPS... Wow.. Going. going and going.
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In this Trade, Price almost reached our Target. Our Target was 1774 but price reached 1777, which is 30 pips less of Target. Yet we generated a profit of 2100 PIPS. Awesome.