SHORT on GOLD XAU/USD
I am shorting gold as the 4hr timeframe has major divergence on the RSI
and there is a nice head and shoulders pattern on the 1hr timeframe.
Price has also broken below a major support zone and has already retested it as resistance.
Once price breaks the neckline of the Head and Shoulder pattern it should fall.
Here is the trade I will be taking on this pair.
PAIR = XAU/USD
ORDER TYPE = MARKET SELL NOW
LOT SIZE = LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1806.561
STOP LOSS = 1808.08
TAKE PROFIT = 1799.40
and there is a nice head and shoulders pattern on the 1hr timeframe.
Price has also broken below a major support zone and has already retested it as resistance.
Once price breaks the neckline of the Head and Shoulder pattern it should fall.
Here is the trade I will be taking on this pair.
PAIR = XAU/USD
ORDER TYPE = MARKET SELL NOW
LOT SIZE = LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1806.561
STOP LOSS = 1808.08
TAKE PROFIT = 1799.40
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