Higher timeframe still gives me a bearish bias.
On the 1H chart, price is testing a major resistance area while reaching the upper boundary of the descending channel.
The 15M chart provided the execution, and I'm currently managing a short position from this zone.
Nothing is guaranteed. If price breaks and holds above the resistance, I'll accept the loss and move on.
Consistency is the key. Trade the plan, not the prediction.
#XAUUSD #Gold #Trading #PriceAction #RiskManagement
On the 1H chart, price is testing a major resistance area while reaching the upper boundary of the descending channel.
The 15M chart provided the execution, and I'm currently managing a short position from this zone.
Nothing is guaranteed. If price breaks and holds above the resistance, I'll accept the loss and move on.
Consistency is the key. Trade the plan, not the prediction.
#XAUUSD #Gold #Trading #PriceAction #RiskManagement
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.