Gold Short
Updated
After retesting 1709.73 and possibly going farther to 1718.11, which is a well respected pivot point of resistance, it might go down following its trend. we are seeing a lower high lower low pattern as well in the 1 hour timeframe. after reaching the said pivot points of resistance, we could very well expect the price to go back to 1699.89 which is a possible first level of support then probably will go back to the previous week low of 1681.55. possible manipulative moves are to be expected during the early moments of the new york session so be careful as well.
also the us economy is going up due to the fact that the stocks in the us are rallying high and recovering from the previous months loses. so potential short entry is to be expected after several minutes of the new york open.
also the us economy is going up due to the fact that the stocks in the us are rallying high and recovering from the previous months loses. so potential short entry is to be expected after several minutes of the new york open.
Note
Still holding the line in 1709 as a pivot point waiting for a potential fall an hour or two from now.Note
1718 proves to be a strong resistance as of the moment. JOLT report may provide a more valid confirmation for a downward movement if ever the news is positive. So far this is my trading plan. Looking on a 50 plus pips stop loss at 1722.23.Note
still 1718 proves a powerful pivot point of resistance. 5 mins more before impact news of US JOLTS.
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