Short

GOLD PRICE MAY TEST 2482 NOW

Updated

https://www.tradingview.com/x/DaHJ1SGs/

Hello traders,

I wrote an article at the weekend where I said that a test and break of 2482 could send price way down to 2434.

Please read the article here.

Why I think Gold is heading to 2482 today Monday! See below.

Trade active

Trade Idea: Short on retracement back above 2482.
We will need a trigger and that will be economic data bearish for Gold but bullish for the USDX

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09:45 USD Manufacturing PMI (Aug)
10:00 USD ISM Manufacturing PMI (Aug)

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If the economic data is really negative for Gold...then I will Short from much higher. But this setup will only come into effect if there is bearish sentiment resulting from our economic data this morning. Of course there is the chance the pmi reading etc could be bullish for gold and bearish for the usdx.

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No trade yet:
Remember, if the Gold price tanks after economic data, the key price is 2482. Expect a retracement upwards of this level to an ema such as the 50 on a 1HR short. So you may short 2485 with a stop at 2495 (example only). Once you are short and if my setup and planning is correct the market could and I say could head down to 2434/32.

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The 38.2 level rarely misses out and there are usually 2 x flushes that go just below 38.2

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thank god for that I thought the grubs were gonna sell it off again.

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Where price could go on bearish news to 2433/34 is only about 2% below current levels. It would be very fast getting down there I think. I believe price turns bullish at 2432. It's the daily 50 ema

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Guys you would not be safe without me. The weekly stochastics for gold are crossing down on 80. Check yourselves. If this is bearish data gold will plunge.

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Im already short. I had to make some money from that last round where i took my eye off the ball and forgot to close shorts. Lost at least 8k.
If this stat is green positive for the $ get short asap.

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2482 breached market will probably retrace and sell off again. bull trap

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weekly gold stochs are still banging down hard on 80. 10 sec tiimeframe is a bullish double bottom price will. head down again soon,

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This is the retrace from the neck at 2482 very common for price to retrace and disrupt the shorters and confuse.

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NOw last friday selloff was a 1hr m_top today is a bigger 4hr mtop. On friday when price hit the neckline there was a huge retrace.

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The 10sec candles are selling off now

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Left screen is daily stochastics and daily rsi well positoned for shorts.
The weekly rsi is in a fantastic short postiton supporting the weeky stochastics.

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could get a push down here on 10secs

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Price just completed a fib retracement. So I need to see a sustained push down now or maybe theres not much in this short.

Order cancelled

1hr and 2hr stochacis and rsi are bullish. I overestimated the m_top. It was an extra leg that I saw different the other night.

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I am long gold guys

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2480 is a fantastic price to be long gold and accrue at this wonderful price.

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I will take a good look at the charts now for long gold

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see how price fell out of this falling wedge 1m. I find price turns bullish when this happens.

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Its a bullshit predicament guys to be trading gold today. If we go long there will be no price momentum with the weekly stochastic giving a clear sell. Price is doing nothing. I am gonna accrue some gold and trade something else. Ive had a gutful of gold. I started out the day so f well.

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IT would not be a bad idea to buy some small parcels of silver. They are at a good low price. I will hold onto them until the FED cuts interest rates and BINGO

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Had enough of gold

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Guys I thought I better let you know. The vix index is up about 12% often bearish for gold so i got short again I could not help mysself

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THEY ARE ABOUT TO take the price down BCHUSD

Price is right at bottom screen.

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Short opportunity.

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What it is... a bearish head n shoulders on the Daily. I went short to see if they follow me down to my TP.

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It probably won't play out today. But keep an eye on that head n shoulders bearish on Daily right at the bottom BCHUSD..it might play out tomorrow.

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Price is starting to move down to my TP. I got about 2.2k in profit down there to collect. They love to take stops for the liquidity.

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I won't get close to that amount however, because I will have to close-out early. Vix index up again that is good.

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My TP is at 275. But you could still Short it because the price is falling slowly but surely.

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They were not playing the game with me enough. But if you show them where your TP is they often will take price there and fill your pockets up. But I was way way down and the neck of the head n shoullders sell pattern is another 4% down the corridor.

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I just went LONG ETHUSD

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Their chart looks okay and they are down 3.5% on the day

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Sorry...2430 SL and TP 2510

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You could buy the fib retrace at about 2445-50

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the 38.2 is bang on 2450

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They don't retrace it deep like they do gold

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Here you go the FIB levels easiest to read on the left chart the 2m

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Assuming these Fib levels hold and they look like they will
A fantastic RR would be buy around 2450 SL at 2443 TP 2510

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2443 SL

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It looks like Crypto uses the 61.8 whereas Gold Fib flush right under the 38.2

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That big candle off the 61.2 created a bullish fair value gap and price often retraces to these FVGs

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These red window looking things are bearish fair value gaps. I did not see them before. But they are everywhere in trading. FVGs are caused by big institutional candles and they happen all the time. The bearish ones slow down price. You will sometimes see price get stuck under one for 30 minutes. The bearish ones slow price down. So we may have to take profits early. The free FVG indicator I use is Luxalgo Smart money concepts. I turn off. most of their other annoying stuff but I. use the FVGs

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The institutions create these FVGs to rob us of our profits

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There is nothing fair about FVGs. They should be called unfair value gaps

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5pm NY price action is slow for the next 3 hours only Crypto trading now.

Easy_Explosive_Trading

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