Gold sell - new sell trend identified by our Edge Algo. 📈
SL and multiple targets shown on the trade itself.🎯
BTW, I did nothing with this analysis - all done for me whilst I stand in queues trying to get my last few bits of Christmas shopping. 😎
Systematic Algo trading at its best.
Merry Christmas all, catch you after the big man has been.🤷🏻♂️
I prefer making videos... but the last 2 videos I tried to upload get stuck at a certain percentage and the upload stops, so... pics it is :)
Im short on XAUUSD, here are the reasons:
Price action strongly rejected this level in recent time and my entry system has ticked when the lower has was made recently (and price couldnt break above my fib resistance...
Ok, usually my charts are a lot cleaner than this and before i post a trade idea, this is the process i usually go for. I look for confluences (as many as possible) and then go and take my trade. It's not always possible to have many confluences. So let me explain this idea for you#
1. Looking at 50%-61.8% retracement from Gold plummeting from 2050...
I could be wrong BUT it appears Gold is about to fall.. where to? No one knows but I have drawn up where i believe the daily support level is and if the structure highlighted is broken then we can look for a sell
XAUUSD is looking like a HOT seller today.
Price action has created a potential bearish continuation, which needs to break out of the blue trend line for further confirmations, but we decided to go short after numerous rejections of the 61.8% fib level from the recent price action high to low.
The Risk Reward is very solid even at TP1, but we are pushing for...
THIS IS JUST MY THOUGHTS AND ANALYSIS
From what I can see looking at the monthly chart gold is set up for a massive drop, its made an all-time high, there has been hardly any correction and it's just completely flown away from the trendline (lol)
I can see a massive amount of divergence on all timeframes and a huge amount of upwards momentum. The last time this...