XAUUSD (Gold/US dollar)

Price on XAUUSD (Gold) has break-off the daily support level. This daily support level now acts as the new resistance level. Recently, the trend on this commodity shows some weaknesses. After broke those level, price bounce back and in the intraday level price forms a rejecting candle. Price forms a Pin Bar in 1-hour chart, with an obvious long tail rejected the old support/new resistance level. I decide to open two short trade on the low of the 1-hour Pin Bar.

OP: sell stop 1065.00, SL: 1070.30, TP1: 1.059.50, TP2: 1054.00

Notes: I will cancelled the order if price moves above and pass through the high of the 1-hour pin bar

XAU/USD daily chart

XAUUSDDaily-151201

XAU/USD 4-hour chart

XAUUSDH4-151201

XAU/USD 1-hour chart

XAUUSDH1-151201

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