Wahid_Elgohary
Short

Gold Short Idea

FX:XAUUSD   Gold / US-Dollar
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2
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Good entry on riding the wave downward.

Reversal from fib 61.8 of the last wave downward, and reversal from fib 31.8 of the downward channel , and reversal from Kumo clouds.

Stop loss above previous high & above the Kumo cloud at $1330, and profit target at $1296 (fib 161.8%)

Risk to reward is quite small on this trade (almost 1:1), so I would trade it with small position/leverage.
Kommentar: Trade is still active. Added to the shorts when the price pulled back this morning.

Still targeting the $1296 before turning into bullish bias.

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