Swing Short -Long trade. Gold heading towards upper channels.

As you can see, the price action is revisiting all significant price areas. Currently, Gold () is hovering above my yesterday's long target at 1962.

I am currently in a short position from what I see as a Buy Side liquidity Sweep above 1964, awaiting a sell-side fakeout type of move that can occur under the necessary conditions to break through the 1962 resistance, which has now turned into support.

In the event of such a breakout, the swing to the downside could extend above the previous 1933 support, reaching around 1942.

I'll envision two different upper targets, contingent on how much short volume institutional traders can absorb in such a swing, specifically, at the 1975 and 1997 price levels.

Trade active

Now in the Short stage of the above described swing.
Let's see how its reacting to the 961-1962 Resistance zone.

Trade active

Short in good profit. Wrong typography on my previous comment 1961-1962 was a Support but indeed is now a Resistance as Price Action located now well below this area.

parisseine

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USD Gold went through the 1944 resistance. What about next?

by parisseine

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