XAUUSD - Where to short? (NEW)
Updated
Since September 2022 Gold has been on a beautiful run. We've seen a big impulsive move without any signeficant pullback.
The price has created a range and now we are getting closer to the upper boundary of the range.
Last week we have seen buyers taking profit aggressively. Either the price will dump from here or it will go a little bit higher and it will get rejected at the strong resistance (upper boundary of the range).
Moreover, we are not expecting this uptrend to continue for much longer as DXY looks like it's bottoming out and it will rise therefore Gold should dump.
The price has created a range and now we are getting closer to the upper boundary of the range.
Last week we have seen buyers taking profit aggressively. Either the price will dump from here or it will go a little bit higher and it will get rejected at the strong resistance (upper boundary of the range).
Moreover, we are not expecting this uptrend to continue for much longer as DXY looks like it's bottoming out and it will rise therefore Gold should dump.
Trade active
Entry for shorts has been reached.
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