GOLD SELLThe trend line indicates a breakout a retouch and hence implies a sell. The Cloud also implies a SELL as well since it initially got thicker and has now changed color indicating a SELL
Gold-short
GOLD STILL FALLINGDepending on market open, we could see a gap to the upside to help gain a better entry. Im confident with recent price action for us to continue lower, as well as global macroeconomics to keep pulling us down. Wether we fall from hereat 1500 or peak at 1560 is not clear, but with that being said, if you scale in you short positions every 200 pips, you can increase the 1.3 R:R to something closer to 3 R:R. 200 pips may sounds like a lot, but with the recent volatility, we have been seeing daily moves of upwards of 800 pips, so be careful with your leverage. any closure above 1565-1570 is a total change in short-medium term trend
GOLD (XAUUSD) - 2H Trend PositionI explain why on this particular time frame the 2H at this point in time there is a greater probability for the south.
Please note carefully for every probability estimate in one direction, there is a residual probability in the opposite direction (e.g. if 51% for the south there is a 49% chance for the north). There is no way I know to accurately assess or measure probability in any particular direction.
In other videos I showed how many missed the Gold storm (for the north).
Disclaimer : Whist the position shown is advantageous in probability terms for the south in my estimation, there is a clear indication of loss. I could be wrong - as I am a lot of the time. This means if you short this and lose your money, kindly sue yourself.
XAUUSD ShortAffter break a strong up trend line and retested we can expect the price of gold falling till the support zone at 1402.85 and possible more.
XAUUSD - SELL SETUPPrice broke out of an ascending channel, plus a structure zone (Support & Resistance).
We may see price retest the broken structure before continuing a bearish move.
Wait for a bearish correction on a lower time frame to confirm the move.
15 min Gold reducing fractal copy worth keeping eye onI see this and thought worth publishing its short term but worth watching
GOLD MORE DOWNSIDEBased on Monthly timeframe I think we can see a more downside move on gold. At least to tap that 0.618 level.
Pandemic or 2008 repeat, who knows but Gold showing its colours Its looking very much like Gold may not be the famous safe haven we know of at this time, it could be the global pandemic, recession the banks, one could write a book on the reasons, but I believe gold has not finished yet, it could turn now and start climbing but I predict more downside yet, so I will be watching for moment below 1500, then for possible return to trend at 1461, 1400 and as low as 1353
XAUUSD (GOLD) BEARISH SCENARIOthis is my bearish scenario....if we see rise to the resistance levels and a clear rejection then I fell it will most likely take a bearish approach.
Falling wedge 15M gold. Short to Fib 0.618Fib. taken from ATH to low 2017.
Quick trade.
As always keep in mind.
Health is more important than wealth.
Best regards
$GC_F Hourly Head & shoulders + top channel$GC_F $GDX showing a pretty clear h&s forming at the top channel line rejection.
