FXKing009

XAUUSD - CRASH PENDING

OANDA:XAUUSD   Gold Spot / U.S. Dollar
An update to a previous idea - CLEANER CHART

From what i can see gold is consolidating on all lower timeframes, it is testing support and from what I can see we are ready for a crash

Price was previously on a downtrend and made a big recovery and just kept rising.. If OIL is anything to go on it did something similar before dropping and as we all know patterns usually take place on multiple instruments

GOLD is no different and I can see it dumping before a big recovery
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Comments

That would not be till 1800$
+1 Reply
FXKing009 Grimes101
@Grimes101, Appreciate the input!
Reply
I am waiting for it to drop to around 1700 between fri and next wed. ..for a long position...yes it is looking bearish as is gdx but would prefer to be going long when it drops than going short right now....best of luck
+1 Reply
FXKing009 SmileR2020
@SmileR2020, Once it starts moving in a clear direction then ill go mad long :D - Good luck to you!
Reply
When would you expect a drop? Roughly
Reply
FXKing009 jiml123
@jiml123, No idea we just watch and wait for the setup carefully!
Reply
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