Downward sloping channel observed in Gold hourly chart

FX:XAUUSD   Gold Spot / U.S. Dollar
76 1 3
Downward sloping channel observed in Gold             hourly chart. Short trade can be initiated with good risk to reward ratio (1:3) making low lows & lower highs.
Trade active: As expected down after hitting upper band of falling channel... but it is taking support at 1254.50 level and bounced off from 1254.50 several times.
I will modify SL little bit closer (1258.50) seeing possibility that gold may reverse. In case it reverses the loss would be only 1 point.
Trade closed: target reached: Target almost reached...
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out