WatkinsTrades

XAUUSD 7500 PIP SHORT

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
The Price action of Nov'2020 is being replicated. Market is looking to break the held support of 1863, allow institutions to enter for a strong short. at this time I can't be certain if the market will continue lower much past the 1800 zone due to the multitude of fundamental implications on the global economy right now. I do have a theory that gold's psychological value may weaken. the perception of gold's value has been reinforced for centuries. but we are entering a new age. the US debt is inconceivable; Gold's main purpose of hedging inflation may start to wear in the the new era of crypto. with this this theory in mind its possible that Gold's decline would continue. Banks have already stocked up on the likes of BTC & XRP, in preparation for such change. I rarely tend to release my analysis, but It would be insightful to have a discussion on theories of such. People need to wake up to the change.

Comments

After the recent touch of 1800. I expect this to go much lower. My target is 1653
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