Gold-short
Good short DXy will gain some steam to the upside and gold is going up making people think it will not go down which the MM want so they can trap you all in long, which means it’s short time look back in March when they pushed it up making people think “long it’s going to fly” then crashed it down to 1500 from 1730ish. Get ready for a big sell that can last some time sell around 1920-1930 sl should be around if not above 2000$ but seeing it reach and break all time high where a lot of people will long and then the MM will short it and make a lot of people lose money aka their job
EURUSD - Long (Impulse - Correction - Impulse)If the market was to retrace to the the green highlighted area, we would have a high probability opportunity to take a long position. We would, at that level have the confluence of the support structure, the Fibonacci taken on the impulse and if we were to get a confirmation to go long with a bullish candlestick pattern.
XAU/USD - Gold - Sell Trade Analysis XAUUSD Update Gold broke through the resistance level placed at 1797.136 and traced to the upside however failed to breakthrough the new resistance level placed. As a result, price struggled to break through this new level and started to break down towards the downside.
Expectation is that price will continue towards the downside however I suspect a possible return to the upside as price has not broke past the level of support placed at 1808.455.
GOLD ::: SHORT5 JUL 2020
INSTRUMENT: GOLD
TIME FRAME: DAY
CONFIRMATION ON OTHER TIMEFRAMES: 2Hr.
TECHNICAL INDICATORS:
PSAR: BEARISH
STOCHASTICS: BEARISH
TECHNICAL LEVELS:
CMP: 48159
SELL BELOW: 47671
SL: 48362
TARGET 01: 45596
EXTREME TARGET: 43293.
RISK DISCLOSURE :
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS The views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.