GOLD Short with 3 Confluences (Zero Indicators)
Confluence:
1. Weekly Chart Trendline breakout.
2. Price is trending bearish with lower highs and new Lows being created.
3: Key low has been broken in the region of 1787 and 1765.
Entry: We will be waiting for a lower high to get formed before looking for any entries on Gold. We are expecting some dollar weakness into the start of this week. With that being said, we are expecting a pull back before we see price settle towards the end of the week and then we should see a push to the downside. This will as well give us time to reassess the risk reward of the trade and to determine whether or not the setup is still valid.
1. Weekly Chart Trendline breakout.
2. Price is trending bearish with lower highs and new Lows being created.
3: Key low has been broken in the region of 1787 and 1765.
Entry: We will be waiting for a lower high to get formed before looking for any entries on Gold. We are expecting some dollar weakness into the start of this week. With that being said, we are expecting a pull back before we see price settle towards the end of the week and then we should see a push to the downside. This will as well give us time to reassess the risk reward of the trade and to determine whether or not the setup is still valid.
Comment:
Just entered gold shorts. Will be holding this trade for between 2 to 3 weeks
Comment:
Gold finally moving to the downside after a 3 weeks of consolidation