Hanging Man Candle Stick on D1 chart

FX:XAUUSD   Gold / US-Dollar
Here you have the HANGING MAN I was talking about in previous idea (see the link below)
Clear sign of trend reversal and historically classic movement for GOLD .
Wait for CONFIRMATION (big red bearish canle) in order to jump in as the price may go all the way down to the 23,60% Fibonacci level at 1251-1257.

Kommentar: Even though the price is already going in my direction and I could have entered the trade at 1321-1322 easily, I still didn't open any position even if there is a very relevant confirmation of a reversal (hanging man+doji+beatish daily candle forming)......
I'm prudent and patient enough to wait for the price to break out important level which I believe is in the 1314-1316 area; once it breaks that, I will enter the trade targetng 1305-1306 first with relatevely high leverage and a small SL just above 1316.
Im open to suggestions :)
Trade ist aktiv: SL 1320
TP1 1310
TP2 1307
Trade geschlossen: Ziel wurde erreicht: 1st Tp at 1310 reached, second Tp at 1306
Trade wurde manuell geschlossen: didnt feel comfortable with price action, closed at 1309.50 my second TP :)

succesfull trade !!!!
This idea is too crazy, this trend is unlikely, is not optimistic
@Macrown, alright, may you be so kind to document your statement somehow ?
I'm open to any debate as long as they are documented or at least explained in details..... :)
not so low, sell is killing yourself.
@yplim2300, mmm I'm not sure if I got what you mean....
nivelij01 simonepepita91
@simonepepita91, She's basically saying that it's not the right time to short sell. Check out all her comment and you'll find out that she is having a long bias for this instrument.
@nivelij01, ohhh ok...the thing is that Im very bullish long term but short term instead, I think there will be a pull back before the uptrend explode and Im wait for confirmation in order to jump in, ready to change my strategy if something goes wrong anyway :)
nivelij01 simonepepita91
@simonepepita91, I do agree with you personally. It is way to extended to the upside for Gold to have a significant retracement. But I can see the bull is getting exhausted and short term wise, I'm with you :)
@nivelij01, EXACTLY....I'll wait for confirmation of a nice big red candle in D1 chart to jump in ;) just still working on TP and SL....any suggestion nivelij01 ???
nivelij01 simonepepita91
@simonepepita91, I have opened short position for this pair. However, my TP is somewhere between 1300 level. I'm not really comfortable to have a TP even lower then that, as 1300 is around 38% retracement. I placed the SL at 1327. I opened the position at 1317. But then again, this is just my 2c. It can even go even lower then 1300. For me, I prefer to have a 1:1 R:R trade, makes my life much more easier :)
@nivelij01, I completely understand your point even though I m even more prudent as Im waiting today daily candle to close in red for confirmation before opening short; I might enter tomorrow morning with high leverage targeting 1300-1305 too....let's see :)
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden