Sellgold
Time to sell your Fools Gold awayGold has made great progress since bottoming out at 1620. However the party is about to end for the bling lovers.
1) There is a double top on H4 against strong resistance at 1730 - 1740.
2) M15 pattern to sell
3) RSI divergence in M15 as well.
Expecting a drop to about 1670 which would be a neat trade with a good R:R.
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GOLD Hit All Targets +270 Pips CONGRATULATIONS Folks This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
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IMPORTANT GOLD Update: +180 Pips Congratulation To Who Entered This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
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Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
XAU Quick Short 1760Short off XAU from upper 1790 zone.
The overall trend is still biased toward a long entry, although a prime entry point for longer-term bullish entry comes in at the 1760s zone rather than higher prices of the upper 1790s.
The pullback may provide the liquidity needed to break the 1800 key level
Steve's Gun2Head - Selling GOLDTrade Idea: Sell Gold (XAUUSD)
Reasoning: Posted a lower high below 21-day moving average, Bearish engulfing candle forming on 1-hour chart with further downside expected
Entry Level: 1836
Take Profit Level: 1812
Stop Loss: 1845
Risk/Reward: 2.67:1
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GOLD will correct fast to $1820After the DOUBLE TOP gold finished its wave 1 and 2 .
wave 1 has 5 waves and wave2 is 3 wave recovery but not up to 62% of wave1, therefore today's correction is considered as the beginning of wave3
wave 3 always be a swift wave , the first target is to bring the yellow metal to $1820 and if extended expect $1670 and finally $1407.
wave 3 may extend upto 162% of wave 1 .