GreyTrades

XAU/USD Asian Session. Short. RR 3:1

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Look to the chart; expecting a fib 0.618 retracement as gold turns bearish with some profit taking occurring and gold slowly sells off to a more desirable purchase area. Money outflows from gold into indices should also occur tonight / tomorrow since the indices fell but slightly recovered as investors took the opportunity to buy the dip. Gold is a risk off asset and since the FED haven't mentioned rate hikes, despite the high inflation, this was a liquidity grab above 1830/40 and now we have enough liquidity to head down to 1680.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.