XAUUSD push lower from 1785.70 handle

Hi traders

I have a few reasons for shorting this pair.. Trading gold can either Make you love it or hate it.. No inbetween

1. Further fundamental (CONTINUING FROM FRIDAY) news releases are yet to come into affect with XAUUSD, this is to show that when it comes to economic uncertainty, there is less than what there was.. So investors would put their money elsewhere..

2. Price (entry) lays comfortable with the market psychology at around 1785.70

3. Price will need to move a little higher to 'overbought' the market..

4. The market shows clear signs for a bearish structure.

5. EMA's are showing bearish moving momentum.

This trade is based of speculation and the strategies we've put in place.. This is not financial advise and you will need to adjust lot size to your balance.

Potential entry 1785.70

Potential pip profit 200+ pips

Stop loss: 35 pips

Trade at your own risk.

Kind regards
Saif

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ปิดการเทรด: ถึงเป้าหมายการตัดขาดทุน:

Unfortunately, we hit stop loss with this XAUUSD trade, however it wasn't the trade that was wrong. It was the timing.

Things like this happen all the time.

Saif