Gold short position XAUUSD - Medium Term
XAUUSD#Gold #XAUUSD has been declining since March, and has shown an accelerated move to the downside (mid april to mid may) signaling a short position. After almost a month of moving side ways and failing to reclaim above the broken trendline, a bearish continuation is now in play aiming at 1721 and 1687
The third continuation wave should bring the price lower to these levels.
Short position can be taken between 1829 - 1845 $
TP1 1721 $
TP2 1687 $
SL = 1D close above 1880 $
Risk/Reward = 2.9
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.