DETAILS
TP: 1828.803 (+$393)
SL: 1835.720 (-$297)
INITIAL THOUGHTS
MACD and RSI starting the momentum shift for the Daily timeframe. Already below the 50 MA. 1h and 4h just crossed back down. Previous red candle for 1h shows a tall wick about the size of the candle. Still ended red. This shows me the buyers brought the price up and sellers pushed it down to end red and it closed there. Sellers are still in control.
UPDATE
06/22/2022 10:13 PM -$40. Even hit a high of -$80 in this short amount of time. Seems like XAUUSD is quite volatile. Made sure to use better quantities this time.
REFLECTION
Trade failed. Need to study the pair a bit more before using quantities of this size. I like the volatility because it's fast money. Need to focus on jumping in when there's hard signals.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-06-22 22:08:05 | XAUUSD | sell | $1832.74 | short |
2022-06-23 02:18:32 | XAUUSD | buy | $1835.74 | 0 |
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