The 
XAUUSD XAUUSD is still in good bearish mode as it is forming reverse Flag pattern on both hourly and 4H Time frame.
A breakdown below the pole of this flag patter will pave way to minimum of 3970 area.
In case id didn’t formed the bearish flag then a potential ABCD pattern is probable. As the price will be required with a 50% retracement on the current swing.
The second scenario will be traded latar. We will give a call on it if the ABCD pattern forms.
Currently we will focus on an entry at pole breakdown and aiming the SL at 4150.71.
I will place two Sell Stop orders at the same entry level:
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Note: Trades Must be cancelled if the price do not trigger and price goes to Gold Ratio area of 4188 – 4240 area. This retracement to Fibbonacci levels will create ABCD pattern for us.
Total Risk 2% - 1% each trade
Entry: 1.32776 (Sell Stop)
SL: 4150.71
TP1: 4050.56 (Win Ratio: 1:1.36 = 1.36%)
TP2: 3976.45 (Win Ratio - 1:3.11 or 0:3.11 in case our 1st TP Hit.)
Overall Loss: 2% of the account
Profit upon TP1 = 1.36%
Overall Profit (If TP2 also hits) = 4.47%
NOTE: wait for another setup if the price retraces to golden ratio after making the ABCD.
XAUUSD XAUUSD is still in good bearish mode as it is forming reverse Flag pattern on both hourly and 4H Time frame.A breakdown below the pole of this flag patter will pave way to minimum of 3970 area.
In case id didn’t formed the bearish flag then a potential ABCD pattern is probable. As the price will be required with a 50% retracement on the current swing.
The second scenario will be traded latar. We will give a call on it if the ABCD pattern forms.
Currently we will focus on an entry at pole breakdown and aiming the SL at 4150.71.
I will place two Sell Stop orders at the same entry level:
Once TP1 is hit, I will move the SL of the remaining trade to Breakeven and let the second position run toward TP2.
Note: Trades Must be cancelled if the price do not trigger and price goes to Gold Ratio area of 4188 – 4240 area. This retracement to Fibbonacci levels will create ABCD pattern for us.
Total Risk 2% - 1% each trade
Entry: 1.32776 (Sell Stop)
SL: 4150.71
TP1: 4050.56 (Win Ratio: 1:1.36 = 1.36%)
TP2: 3976.45 (Win Ratio - 1:3.11 or 0:3.11 in case our 1st TP Hit.)
Overall Loss: 2% of the account
Profit upon TP1 = 1.36%
Overall Profit (If TP2 also hits) = 4.47%
NOTE: wait for another setup if the price retraces to golden ratio after making the ABCD.
Ordem cancelada
The setup is not validated anymore. so cancelled our positions.
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Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.