Trading Journal #1

in #forex7 years ago

Greetings Traders!

Today I am going to start posting some of my trades that I am currently doing.

18623578_1474236839295984_5781437784902521924_o.png
Fig.1

In Fig.1, you will see the overview of the weekly chart for XAUUSD. This is what I'm looking at for this chart. I will go into more detail.

18698348_1474230495963285_5909930959371476666_n.png
Fig.2

In Fig.2, what I focused on is the long-term downward trendline that has been formed. Personally, I still feel that Gold will continue to go down in price. Possibly even lower than 1000.

18582648_1474230462629955_8451640230453362909_n.png
Fig.3

In Fig.3, I have identified a shoulder head shoulder pattern and decided to short gold.

To conclude, Gold is testing the trend-line again and has formed a bearish Shoulder-Head-Shoulder in the D1 chart.
My Stop is at $1,325.

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