XAUUSD: $1707 Next Short TargetFirst off, please don't take anything I say seriously. As always, this is on opinion basis. That being said, let me get into a few points. Right now, Gold is very bullish on the Forex market, and in most financial markets in general. The demand curve is seemingly going up. This is why it also has long potential. However, for a short term self-off target for Gold (since I prefer doing shorts for day trades), the target I would set-off is $1707, then reinvest in the dip couple dollars down and so forth following the day's range trendline.
Xaushort
GOLD Fake out before Break out??Hello Traders,
Gold looks like its following the bearing pattern but, we wont know until the next point & figure :P
TRADE SAFE and we will know by the next DAY!!!
I WILL UPDATE TOMORROW MAKE SURE TO LIKE AND FOLLOW
Look down below for related ideas & videos on why this is a short!
XAUUSD H&S formation neckline brokenXAUUSD has been showing bearish signals since the head was printed. The daily showed bearish divergences.
The neckline has now been broken of this H&S pattern.
Should be getting a re-test of the neckline once more (the red zone) before moving down to a first target of 1436 and then 1405.
Good luck friends.
This looks like a good trade to be in.
Xau downfall as Dollar Inflates! (Stay Tuned) Shorted at 1535, now with inflating dollar we could see more downside.
- Tp: 1453
- Tp2: Tentative
- Sl: Trade at your own risk
--> Next we want to look for possible retrace after this downward pressure.
--> Followed by a push even lower as indicated in my Chanel on the weekly time frame.
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SHORT XAGUSD Testing Resistance, Prepare For ReversalXAGUSD is testing its resistance where we expect to see a reversal.
XAGUSD is testing its resistance 16.20 (horizontal swing high resistance, 61.8% Fibonacci retracement ,61.8% Fibonacci extension ) where a reversal to its support at 15.51 (61.8% Fibonacci retracement ,100% Fibonacci extension )
Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.