Quality Short Opportunity on Gold

As Gold rebounds off of its lows I will be looking to start a short position as it enters the key resistance area (purple zone). I will stay patient to add most of the position on a final swing up to grab liquidity above the key zone and ultimately complete a bearish divergence. My short target is a macro golden pocket, the bottom of a macro parallel channel, and the next big support level on Gold. $1,575-1,550.

Use proper risk management and a stop loss and this could be a very profitable trade, good luck!

Below is a zoomed out image of the trade discussed, looks good.

تعليق:

I took a closer look and I changed my short entry to the middle of purple zone, and an add at the top of the purple zone. I was missing a simple yet important piece of TA.

تعليق:

Still waiting... :)