Gold Spot / U.S. Dollar
Short
Updated

XAUUSD - Possible top formation on gold ?

74
XAUUSD probably topped as I expected around 3200 - 1 fib extension from low 1046 to high 2075 and higher low 1614 (started to short at the precedent low 3157)

big daily bearish divergence on RSI as well

maybe double bottom in 1 or 2 weeks then will go all down till september thats my forecast

daily POC/and back to 0.618 fib extension is my target ~ 2500 (around -20% move)

____

any new ATH could bring gold to next fib extension at around 3850

Cheers
Note
invalid, prob going to 3858
Trade closed: stop reached

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.