XAUUSD Sell Idea: Potential Bearish Move Ahead
Hello traders! Today, I would like to share a potential trade idea for XAUUSD that could lead to a bearish move. The current pattern in play is a rising wedge, which is typically a bearish signal.
Trade Idea: Sell XAUUSD from 1837 with a stop loss at 1843 and two targets at 1829 and 1820.
Risk Management: To mitigate the risk, I recommend placing a stop loss at 1843. This would limit the potential loss in case the trade goes against our expectations. Furthermore, the first target at 1829 would provide a 1:1 risk-reward ratio, and the second target at 1820 would offer a better risk-reward ratio of 1:2.
Conclusion: Overall, XAUUSD presents a bearish outlook based on the rising wedge pattern in play. Selling from 1837 with two targets at 1829 and 1820 and a stop loss at 1843 could potentially lead to a profitable trade. However, as always, I recommend traders to do their due diligence, assess the risk-reward ratio and adjust their positions accordingly. Happy Trading!
NOTE:
Disclaimer: This trade idea is for educational and informational purposes only. Trading in the financial markets involves risk, and past performance is not necessarily indicative of future results. Before placing any trades, you should carefully consider your financial situation, risk tolerance, and trading experience.
Trade Idea: Sell XAUUSD from 1837 with a stop loss at 1843 and two targets at 1829 and 1820.
Risk Management: To mitigate the risk, I recommend placing a stop loss at 1843. This would limit the potential loss in case the trade goes against our expectations. Furthermore, the first target at 1829 would provide a 1:1 risk-reward ratio, and the second target at 1820 would offer a better risk-reward ratio of 1:2.
Conclusion: Overall, XAUUSD presents a bearish outlook based on the rising wedge pattern in play. Selling from 1837 with two targets at 1829 and 1820 and a stop loss at 1843 could potentially lead to a profitable trade. However, as always, I recommend traders to do their due diligence, assess the risk-reward ratio and adjust their positions accordingly. Happy Trading!
NOTE:
Disclaimer: This trade idea is for educational and informational purposes only. Trading in the financial markets involves risk, and past performance is not necessarily indicative of future results. Before placing any trades, you should carefully consider your financial situation, risk tolerance, and trading experience.
Trade closed: target reached:
Update: XAUUSD Sell Idea - TP1 Achieved
Hello traders! I am updating the previous XAUUSD sell idea that I shared, where the first target at 1829 has been successfully achieved. The price action in XAUUSD has continued to move lower, and as a result, we have hit our first target, securing a profit of approximately 8 points.
Hello traders! I am updating the previous XAUUSD sell idea that I shared, where the first target at 1829 has been successfully achieved. The price action in XAUUSD has continued to move lower, and as a result, we have hit our first target, securing a profit of approximately 8 points.
