Tradersasi23

Profit booking started as expected

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Price into cup and handle (Monthly TF) method as discussed earlier. Breaks the cup high without forming the handle is unusual. Currently price into channel and breaks 2 patterns within the channel. Finally channel was broken yesterday and what we can expect is a profit booking and it happened.
Trade closed manually: As expected profit booking done by the big players. . . avoid trading this until it settles

Comments

How much can it fall upto as your chart prediction
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Tradersasi23 dharmin27
@dharmin27, 1930 is the first support and 1920 will act as second support. Now profit booking is happening in the script, keep in mind it is not the actual movement of the script.
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dharmin27 Tradersasi23
@Tradersasi23, thanks
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