Gold Short/ Sell
🔰 Pair Name : XAU/USD
🔰 Time Frame : 4hrs
🔰 Scale Type : MID/LONG Scale
🔰 Direction : SHORT/SELL
-Daily/ 4H symmetrical triangle pattern has broken in a downtrend channel yesterday after CPI data released
-Now price is trying to retest the triangle pattern upper side again, we are looking for sell with eyes on today's Core PPI news.
-Be aware Gold daily up trend line is already broken.
🔰 Time Frame : 4hrs
🔰 Scale Type : MID/LONG Scale
🔰 Direction : SHORT/SELL
-Daily/ 4H symmetrical triangle pattern has broken in a downtrend channel yesterday after CPI data released
-Now price is trying to retest the triangle pattern upper side again, we are looking for sell with eyes on today's Core PPI news.
-Be aware Gold daily up trend line is already broken.
Trade active
Note
Gold might has a possibility gold retrace to fib level 78.6 from yesterday's higher high at price level 1965 before sell startsNote
TP1 Reached! Keep holding! Long way to go.Note
As per the analysis provided, it appears that the market sentiment is currently bearish for #gold. Despite the jobless claims data being slightly higher than predicted, the market interpreted it as positive news for the dollar. Consequently, after a brief spike in the price of gold, bearish movement has taken control.Based on this analysis, a potential trading strategy could involve selling gold with a stop-loss (SL) placed above 1835 and setting a minimum target of 1900.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.