Following ideas help develop a short trade for XAUUSD.
1. Price encountering triple intersection of lines at D and creating a bearish candle with strong selling pressure
- Red Pitchfork
- Black Channel
- Inward parallel line of Blue Pitchfork
2. Low of Bearish candle at D is broken indicating the start of downward moment of price
3. 2nd Degree Bearish continual divergence observed in Blue and Violet arrows
Entry: 1800 to 1797
Sl: 1806
Target: 1780
This is for educational purpose only.
1. Price encountering triple intersection of lines at D and creating a bearish candle with strong selling pressure
- Red Pitchfork
- Black Channel
- Inward parallel line of Blue Pitchfork
2. Low of Bearish candle at D is broken indicating the start of downward moment of price
3. 2nd Degree Bearish continual divergence observed in Blue and Violet arrows
Entry: 1800 to 1797
Sl: 1806
Target: 1780
This is for educational purpose only.
Comment:
SL triggered. Sometimes, we do everything right and yet price displays something unexpected. That is part of game. Waiting for next opportunity.