Hello fellow traders! Just want to add some words to my previous post on opening new Short position in hope for 17th profit in a row on Short positions. Gold is coming to Thursday's #1,221.70 Low with the October 12th low #1,219.20 my main point of interest. Hourly 5 has been on Lower Highs since last Monday and a break out on theses levels formed a small channel. The currency pair USD-CNY has moved to a new 2018 High, USD-JPY made a new High # 112.88 and DX touched 96.15 again, forming a very bearish technical outlook for Gold which keeps me not regretting opening another Short position (will add 3 more since I expect a freefall to #1,180.40 my final Take profit and that is, by my analysis fair price of Gold, technically and fundamentally.) Keep in mind that on a Monthly basis we are still on 6 straight bearish months and there is still time even for the current monthly candle to close in losses. With this week's Macroeconomic news releases (ECB Interest Rate Decision, U.S. Pending Home Sales, U.S. GDP to name the most important) standing out as potential catalysts, I expect Gold to start devalue its inflated prices due to this month's stock market correction and global geopolitical threats. Take care and have a nice profits!
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
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.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
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.