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


XAU/USD 4-hour chart


XAU/USD 1-hour chart


*Disclaimer on


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: