Hi fellow traders,
On the 15M GOLD chart, I am applying Elliott Wave principles to outline a potential short setup.
Price has completed a strong impulsive move and is now testing a key reaction area. Within my strategy, I look for entries in the Blue Box, where multiple tools come together to provide confluence.
The current structure suggests this rally may be corrective, and I am looking for a rejection from the Blue Box before the larger bearish trend resumes.
Entry: current price
Stop Loss: 4202.96
Take Profit: 3922.16
If price rejects from the Blue Box, it would support continuation to the downside. If price breaks above the stop level, this setup is no longer valid.
Good luck and trade safe!
On the 15M GOLD chart, I am applying Elliott Wave principles to outline a potential short setup.
Price has completed a strong impulsive move and is now testing a key reaction area. Within my strategy, I look for entries in the Blue Box, where multiple tools come together to provide confluence.
The current structure suggests this rally may be corrective, and I am looking for a rejection from the Blue Box before the larger bearish trend resumes.
Entry: current price
Stop Loss: 4202.96
Take Profit: 3922.16
If price rejects from the Blue Box, it would support continuation to the downside. If price breaks above the stop level, this setup is no longer valid.
Good luck and trade safe!
Trade ativo
Nota
SL did not trigger, short trade still valid.Nota
Trade fechado manualmente
Aviso legal
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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.