Gold-short
GOLD signal to sellAgainst the background of the dollar's growth, the price of gold continues to fall. Here are three of my predictions that came true over the past week.
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A couple of days ago, gold had enough strength to break through the resistance line, after which the price was able to fall even lower behind the resistance.
Together, this gives us a signal to open a sell trade.
I expect the price to fall to the support line - TP.
If the price goes up, place the SL at the intersection of the resistance lines.
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GOLD will BREAK SUPPORT lineFor starters, let me remind you of my past ideas that came true.
Initially, the price rose to the resistance line.
Then it continued to rise from the support zone.
After yesterday's drop, gold has fixed in the support / resistance zone. The price continues to move neatly without strong fluctuations.
It is located near the intersection of two lines: resistance and support. Obviously, they are now holding back the movement.
However, I expect that after such a temporary calm down, the price will leave the zone.
I expect the price to bounce off the resistance line and break the support line. After that, it will gain a foothold at the intersection of the lines and continue to fall. In this case, the price target is the support line 1853.7.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
📈 Sell Gold (AXUUSD) Based on Technical Analysis
We are in a downward trend. And the pattern of the descending triangle is definitely formed.
If price support levels are broken, it is a good opportunity to sell.
You can sell when the first or second support breaks. And expect to achieve the set goals.
Gold: Can We See 1850 Soon ?! Watch To Know This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions