Gold Approach 0.382 and important Resistance AB=CD complete at 1235 0.382 retracement at 1238.41 Previous Structure aslo at same level. Therefore we can short gold at this level If price action is bearish. Look for Pin bar , inside bar break down and Engulfing Candles TP1: 1208 TP2: 1195
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Price is coming to our zone wait for price action first.
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Repeat: Don't enter any short now. Just Observe First.
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Wait for this 4h candle close to confirm a bearish engulfing
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If this candle can't break new high, we can go short
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Nice!
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Now is 1214, nice 200 pips profit!
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Now we can short Gold one more time based on this Inside Bar
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Gold Failed to break 0.618
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Our short from 1328 made money again
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The Inside Bar has reached 1:1 RR ratio, we can close half profit of this position
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Nice Fall! Now is 1212!
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1207, +300 pips
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This is a very good example of structure + AB=CD + Fib We don't need to guess the market, but we simpley trade them! Big win or small loss comes as the result
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