Short

Gold 12h TF opportunity again

Updated

I closed the last post about gold short opportunity. But it is back, Check the 3 trendlines, gold may form a sideway among them, then break down to drop, personally, I will wait for the price retest 1723, then resist by the downside trendline, if do so, get in the trade when price breakout. I will update later when the opportunity is coming.

Note

Wait for the hourly close, the half position may be triggered.

Note

Price pattern doesnt look good, I wont take any trade today, wait for tomorrow to see if any better signal appears.

Note

Nothing changed, just waiting for the pullback to enter the trade

Note

If you have the resource, please check the GC price, when price pull back to restest, 1711, the gold spot should be around 1695-1701, that will be a good time to short gold for around $100-$150 downside movement. Let us see what will happen next Tuesday or Wednesday, currently, the entry point is on 2h/3h TF, we need more confirmation signal

Note

Point is coming, be patient

Note

Check the next 2-3 hours close, we may have the chance to start shoring gold for next 2-4 weeks

Trade active

Order placed, 1695
SL:1705
TP1: 1620, tp2: 1580, tp3: 1500

Note

The short position does not move very well, let us see the next 3-4 hours, if the price wont go down more, we may close 1/3 position

Trade closed manually

Price rejected to move down

Note

I still have 1/3 opening position, wait for the London time

feener

Related publications

Gold 12h opportunity

by feener

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.