(J) Trade 8: Confluence of potential Resistance #Gold

Update: Didn't trigger entry and reached targets. Cancelled Trade.
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Trade 7: Pending Short Gold @ 1205.00
S.L @ 1215.00
T1 1193.00
T2 1182.00

For $29,798.94 Balance, Position size = 0.7
7x 100=$700~ 2.4% of Balance
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Reasoning

• 200 Day SMA forming resistance
  
• 1204-1205 horizontal resistance(previous high)
  
• Completion of ABCD wave pattern at 161.8 extension for wave BC.
  
• Ceiling for potential short term channel
  

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