GOLD to fall into 1700, breaking structure. DXY to rise.
Gold to complete fib retest and break monthly support at 1780.00. Increasing value of dollar --> Decreasing value of Gold.
Bearish head and shoulder on OANDA:XAUUSD Targets as low as previous low 1764. Use proper money management
GOLD head and shoulders, trading below daily levels so expect a rollover into lower levels.
My first commodities share 🤓 I managed to get a good position at 1912.64, the triple touch in this area inspired me to take a short position. A hidden bearish divergence on the daily also encouraged me. I’m adding another short position 🤞🏾
Gold has beed trading in a ranging market however in a grand corrective cycle. that means the biased direction is to the downside in order to finish from the third corrective leg near 1805- 1776 $ per ounce. meanwhile gold is retracing upwards in a 3 waves pullback, we will be looking for short positions near 1914-1917 level with respect to a stop loss above...
Taking a look at the 1 Hour chart on Gold, it has gone through a sharp drop since breaking its record highs above the $2000 level. Currently now the price in Gold has pulled back higher from its sharp recent fall and is trading in an ascending channel. This Channel has completed a potential larger 3 drive bearish pattern in the process. Why we like this pattern...
wait when price form reversal pattern inside price zone 1940-1950, then short 1st target 1900
Too much bulls, give us a better price... 🖖🏼
This is a my plan for GOLD in W27
GOLD IS FORMING A BEARISH BUTTERFLY ALONG WITH PRICE EXHAUSTION AT KEY RESISTANCE LEVELS. IT MAY BE TIME TO SHORT, WATCH PRICE ACTION AT COMPLETION.
Sell Gold: 1768.69 Stop Loss: 1773.08 Tack Profit: 1755.97