HELLO TRADERS, THIS IS A POSSIBLE SHORT OPPORTUNITY ON GOLD. AS THE MANTRA GOES “DOWN, DOWN, DOWN, DOWN, UP, SELL…”

XAUUSD H4

MARKET IS BEARISH, 55 EMA IS ABOVE THE 21. PRICE IS ON A BEARISH TREND PRINTING LOWER HIGHS & LOWER LOWS. PRICE HAS CURRENTLY PULLED BACK TO THE 21 EMA WHICH IS DYNAMIC RESISTANCE. PREVIOUS SUPPORT IDENTIFIED BY ORANGE BAR IS NOW ROLE REVERSAL RESISTANCE. AN AGGRESSIVE BEAR WILL SHORT THIS @ THE 21 EMA.

XAUUSD H4 POST TRADE PLAN

SOLD @ 1278.92, HOWEVER I CLOSED THE TRADE BEFORE PRICE WENT DOWN TO WS1. MY REASON FOR CLOSING THE TRADE IS THAT I SOLD AT A SUPPORT PIVOT & WHEN THE TREND SEEMS TO BE SLOWING DOWN. NFP WILL MOVE GOLD & THAT IS ALSO ONE OF THE REASONS I CLOSED THE TRADE.

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