Hotsprit

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Don’t miss this opportunity to short gold. Of course with caution ⚠️

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Gold is looking for a big bearish move! Touching the resistance line!

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Gold has the opportunity to rise to $1998 inside the short term descending channel.

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Usdcad long position Tp1: 1.3545 Tp2 1.3594 Tp3: 1.3644

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Gold is ready to raise to the upper side of the channel!

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Great start for the week!! The 2nd scenario that we published yesterday before market openings worked perfectly! Hope you could catch it. For the rest of the day we will see very low volume. We will publish our plan for tomorrow shorty!

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Entry @ 1756-1760 SL @ 1765 TP1 @ 1745 T0P2 @ 1740 TP3 @ 1730

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XAUUSD Sell @ 1802 TP1 @ 1796 (close 50%) TP2@ 1794 (close 25%) TP3@ 1790 (close 25%) SL @ 1804

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Another sign of bullish turn of Gold: On Friday, gold managed to break the descending channel and retest the support. We are looking for buy opportunities here.

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At monthly chart, Gold rejected fib 50% @1873. Looks like a cup and handle pattern formation. Expect bullish movement from here.

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After touching the support zone of current channel and rejection, gold can try the resistance line around 1965.

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Gold is in consolidation mode. Short for now to 1935.

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After touching almost 2000, gold has experienced a very fast pullback to 50% fib resistance. Now, we can expect the bullish movement to continue. First goal: 2000

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short from 1950. SL @ 1962. TP1 @ 1920. Probably it’s gonna hit 1950 very quickly during opening hours. We can open position after rejection.

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Looking into Geopolitical and Economical event, we cannot see possitive news for gold in the coming days. In the other hand, US Dollar is very bullish. We can see the pressure on Oil prices as a result of this. Looks like gold will be bearish in the coming days and weeks.

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Gold is in ABC correction mode and reaching fib 0.618 retracement and strong horizontal resistance zone of 1950. Dollar is getting stronger and put more pressure on gold. It is possible that gold price drops to 1890 zone again to retest the support line.

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Ichimoku + Fib + trend line analysis of USDCAD In weekly time frame, price is at horizontal trend line resistance and ichimoku resistance (leading span B). It is very likely to bounce to support trend line which is around 1.2480-1.2520. This idea is also supported by ichimoku cloud and fib retracement.

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I believe if the pair can be stabilized above 1.2745, then it can reach 1.30 in 1-5 weeks!