I was waiting for price to come back up to the top to publish this idea. Like expressed in previous ideas gold is bearish mid-term and due for a correction to at least $1230. Here at the top, I think, we will range a couple weeks at least giving multiple opportunities to get best shorting opportunities.
TP1 - $1230.
TP2 - $1200.
This is Mid-term opportunity that should play out within second half of 2019 year. Requires patience.
Good luck!
TP1 - $1230.
TP2 - $1200.
This is Mid-term opportunity that should play out within second half of 2019 year. Requires patience.
Good luck!
Note
This idea is not doing well but since it is on weekly TF I would like to see weekly candle close before drawing conclusions. Bat correctly identified potential reversal zone price behaving highly emotional there.Note
I shorted at $1390 today. Can not advise it because it is risky. If you decide to do the same handle the risk properly.Note
Doubled short at 1406. Let's see how it goes. Waiting for week close to make final decision.Note
This Bat pattern got killed this week. It doesn't mean gold will not drop though. I have created new idea with bigger and better AB=CD Harmonic pattern.
Closing this idea as FAILED.
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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.