Short XAUUSD right now. Resisting but it will drop
https://www.tradingview.com/x/oHIENP2q/
The Gold price has had a big run in January. It's bearish chart at the moment is probably what triggered Bitcoin to scab more liquidity down below 100,000 yesterday. Bitcoin is a big faker I've seen it many times. It will only go down under 90,000 if it feels it needs to for liquidity down there.
It's hard to short Bitcoin and the Gold price due to their massive size, but this is a strong setup on the Daily Chart, 16H, 12H, 8H and 4H. We have the MACD overbought and crossing down and through the signal line on all these timeframes, but wait there's more, we have a Double Top on the Weekly and Daily chart.
See the chart. My live chart is turning some profit now.
The Gold price has had a big run in January. It's bearish chart at the moment is probably what triggered Bitcoin to scab more liquidity down below 100,000 yesterday. Bitcoin is a big faker I've seen it many times. It will only go down under 90,000 if it feels it needs to for liquidity down there.
It's hard to short Bitcoin and the Gold price due to their massive size, but this is a strong setup on the Daily Chart, 16H, 12H, 8H and 4H. We have the MACD overbought and crossing down and through the signal line on all these timeframes, but wait there's more, we have a Double Top on the Weekly and Daily chart.
See the chart. My live chart is turning some profit now.
Trade active
SHORT XAUUSD
* You will work out your own margins. Cheers.
Note
The bears are out for gold.
It may try to take a burst to the upside on the back of big stocks like Nividia I see rallying.
Trade closed manually
What happens in Gold shorting in the Australia session which is thinly traded, the 22 Trillion Market Cap XAUUSD bucks at anyone going short. That is what happened. I had daily, 12hour, 8,6 all bearish, Gold has only recently on a lower time frame pushed i's self up and out of a bearish edge. This is what these Huge mega cap do as well as writing their own Double bottoms and heads and shoulders patterns when convenient for them. I witness this a lot. Think about it. Their very cleverly programmed algorithm's will write its price to match the formations because I see it occur when their is no volume here in Australia.
Look at price action. I may get short again but better not to take risk in shorting Gold it will look for a turn early to head back up to double tops.
Note
Trading Asia session really sucks. You stand out like dogs balls and your trades are easily manipulated by the grubs lining their pockets betting on the spreads and oiling their algo' robots. 
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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.