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Gold Spot / U.S. Dollar
Short

Gold 12h TF opportunity again

By feener
Updated
I closed the last post about gold short opportunity. But it is back, Check the 3 trendlines, gold may form a sideway among them, then break down to drop, personally, I will wait for the price retest 1723, then resist by the downside trendline, if do so, get in the trade when price breakout. I will update later when the opportunity is coming.
Comment
Wait for the hourly close, the half position may be triggered.
Comment
Price pattern doesnt look good, I wont take any trade today, wait for tomorrow to see if any better signal appears.
Comment
Nothing changed, just waiting for the pullback to enter the trade
Comment
If you have the resource, please check the GC price, when price pull back to restest, 1711, the gold spot should be around 1695-1701, that will be a good time to short gold for around $100-$150 downside movement. Let us see what will happen next Tuesday or Wednesday, currently, the entry point is on 2h/3h TF, we need more confirmation signal
Comment
Point is coming, be patient
Comment
Check the next 2-3 hours close, we may have the chance to start shoring gold for next 2-4 weeks
Trade active
Order placed, 1695
SL:1705
TP1: 1620, tp2: 1580, tp3: 1500
Comment
The short position does not move very well, let us see the next 3-4 hours, if the price wont go down more, we may close 1/3 position
Trade closed manually
Price rejected to move down
Comment
I still have 1/3 opening position, wait for the London time
Chart PatternsTrend Analysis
feener

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