XAUUSD ( GOLD ) - Massive Short ( Full Description) Welcome to The EgoMist Financial Experts!
-XAUUSD- GOLD-
-Fundamentals-
Due to political situation and virus boom, investors started to redesign their trading basket, and as traditionally they will push more on GOLD.
We almost reached the HIGH of 2012 , but before we gonna do that - it's time to retrace ( fix part of their run ), also there is a deficit of liquidity ( buying power).
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-Technical Analysis-
We stuck in triangle caused by:
1- Major Bullish Trend Line with more than 7 hits already
2- Local Bearish Trend Line with 2 touches
Usually in such kind of situation we will see a FALSE Break-Out of Local Bearish Trend Line at the 4th Touch!
-That's why we set our SELL LIMIT orders:
1- Short-Area #1
2- Short-Area #2
With Logical Take Profits at Supply-Demand Zone and Local Liquidity Points!
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-Indicators-
EgoMist Divergence:
1- Points for Sellers Power - RSI hardly go above 50 levels zone.
2- At the Fake Break-Out we will see a good divergence ( Price Structure already points at it and formed best conditions)
EgoMist ATR
1- Above the Price we have Monthly and Weekly Zone which represent strong resistance
2- Our next Weekly Zone will be lower than previous one!
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Conclusion:
1- We have already opened few short with small lots since current Risk is High and Stop Loss is Huge
2- We set a 2 SELL LIMIT orders above with amazing RR
3- We have a cover HEDGING Trade in case of loss - At false breakage of HIGH 2012
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