XAUUSD - Explanation of the closing of the operation
We have closed the operation in the area that says CLOSE TRADE, if you look I have marked in blue the 3 rejections that we have had when the symmetric triangle pattern was formed.
We have entered the trade after the break of the bullish trendline at M5, a pullback has formed, touching the resistance of the symmetric triangular pattern.
Then it went down again, and I saw another rejection in the same area, the 3rd rejection, I thought I had managed to break that resistance of the symmetrical triangular pattern, but it has bounced off the support, seeing that wick that it has left and being the 3rd bounce I preferred to close the operation.
Now a 4th rejection has been formed, on the support of the symmetrical triangular pattern.
I will wait for the rejection of the support or resistance of the triangular pattern and a pullback with confirmation to open a trade.
We have closed the operation in the area that says CLOSE TRADE, if you look I have marked in blue the 3 rejections that we have had when the symmetric triangle pattern was formed.
We have entered the trade after the break of the bullish trendline at M5, a pullback has formed, touching the resistance of the symmetric triangular pattern.
Then it went down again, and I saw another rejection in the same area, the 3rd rejection, I thought I had managed to break that resistance of the symmetrical triangular pattern, but it has bounced off the support, seeing that wick that it has left and being the 3rd bounce I preferred to close the operation.
Now a 4th rejection has been formed, on the support of the symmetrical triangular pattern.
I will wait for the rejection of the support or resistance of the triangular pattern and a pullback with confirmation to open a trade.
