GOLD entering short heresaw some good support and bearish engulfing..
with a good risk and reward ratio
Gold-short
Gold - Easy head and shouldersHello everyone, as we can see he have a beautiful head and shoulders pattern that we have broke bellow the neck line. We also see divergence on the weekly and monthly timeframe, so a bigger drop is most likely going to happen, because we had way too steep surge and we needed such pullback. For now we should trade only the head and shoulders with the given take profit, because given the unstabillity of the economy, gold might aswell rise a lot in the near future especially during the elections. We can sell
now and place the stoploss above the right shoulder. Good luck to everyone!
Gold short 20 Aug short
- bearish on weekly view
- forming double top on daily view
however -- might not be a deep dip rather just a take profit correction -
fundamental makes it likely that investors have no where else to go but equity and gold so the sell-off wont be sharp --> i doubt a sharp rise - everything already overbought unless a shifting fundamental is to come, pushing gold deeper into the overbought region
Indicators
- bearish on monthly view, weekly AND daily
Next short target region as charted.
GOLD short for a few daygold is in a pullback from a steep down move and i believe it will continue down as the bearish strength looks good. price broke out of the correction and is making bearish structure on the 15 min. also there is quite a way down to go before reaching the daily bullish trend line so to me there is a nice amount of room for gold to drop.
leave what you think below!
BULLISH DIVERGENCE - BACK TO TOP OF THE RANGE? As you can clearly visualize we can see a clear (BULLISH DIVERGENCE) - this has played out over night after we seen the drop from 12075 to 11125.
We've clearly seen a nice bounce off 11.1k (local support) & look to be finding support around 11400 - 11600.
It's possible we're just ranging before the next leg up. (or down) depends on how the market reacts to these levels.
Lose 11.1k & I'll look for 10500.
Gain 12.1k I'll look for 12500.
(Play it level by level and don't try to predict the future, trade what's in front of you and keep a clear mind)
Enjoy your day, and remember to hit that like button. (It's highly appreciated)
XAUUSDThe price of gold will start falling for a little bit. Im expecting this target at @ 1981.05 at least
Gold Short ScalpGold is probably in a short term correction. Here is my view in it.
Target 1: 1970 USD
Target 2: 1900 USD
GOLD down to 1910?Gold has shown us very good growth! however now it has begun its retreat and has come to a strong line. I think that Gold will be able to break through this line as well, and I expect a move to the support level of 1910.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
XAU FOR SHORT??? Possible bearish Harmonic pattern for GOLD for long-term short. Wait for update and entry.
GOLD shortThe price has been at the same level for a long time, pending. I still continue to expect it to fall down to the support level.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
GOLD - Possible breakout As usual, set your sell stops, and if triggered ride till you hit profit
Forex Guru Wealth Academy :-)
