Sell XAU
On the daily, I see that price is in a downtrend and hit -27 twice on the daily fib after retracing to 61.8
On the 4HR, I can see that price was in a downtrend, hit TP2 -61.8, on the 4Hr fib and appears to be trending up, breaking resistance.
On the 1HR, price was in an uptrend. It broke resistance and hit -27 on the 1HR Fib.
Since price only retraced to 38.2, I am looking for it to drop, come back down to the trendline AND weekly key level. (150 - 200 pips)
On the 4HR, I can see that price was in a downtrend, hit TP2 -61.8, on the 4Hr fib and appears to be trending up, breaking resistance.
On the 1HR, price was in an uptrend. It broke resistance and hit -27 on the 1HR Fib.
Since price only retraced to 38.2, I am looking for it to drop, come back down to the trendline AND weekly key level. (150 - 200 pips)
Trade active
Order cancelled
I actually never entered this trade because it did not break and retest my entry point. So, no love lost.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.