Look at the Gold XAUUSD daily chart D1 and the bearish momentum is becoming very clear. After a massive rally we are seeing a strong rejection at the psychological resistance levels.
Currently holding a Sell position with a floating profit of 1905.30 USD. My entry was based on the price action signaling a potential exhaustion of the uptrend. I have set my Take Profit TP target around the 4255.00 zone as the market looks like it is heading for a deeper correction.
Discipline and risk management are everything in this market. I am moving my Stop Loss SL to lock in these gains and let the trade do its thing.
Where do you see Gold heading by the end of the week Pullback or continuation Let me know your thoughts
Gold XAUUSD ForexTrading TradingStrategy BinanceSquare TechnicalAnalysis
Currently holding a Sell position with a floating profit of 1905.30 USD. My entry was based on the price action signaling a potential exhaustion of the uptrend. I have set my Take Profit TP target around the 4255.00 zone as the market looks like it is heading for a deeper correction.
Discipline and risk management are everything in this market. I am moving my Stop Loss SL to lock in these gains and let the trade do its thing.
Where do you see Gold heading by the end of the week Pullback or continuation Let me know your thoughts
Gold XAUUSD ForexTrading TradingStrategy BinanceSquare TechnicalAnalysis