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Gold-short

HUGE GOLD SHORT TO START 2023 OFF RIGHTHello Traders, Happy New Year All!!! I wish you all a very successful 2023! Today we are looking at OANDA:XAUUSD where we have identified a solid zone of reversal. Why are we entering? - We are at the end of our subwave 2 correction. We are now expecting bearish subwave 3 to occur which is a impulsive wave. - We are expecting a rejection from our -1 fibonacci level What is our confirmation? - Rejection from our -1 fibonacci level - Break of wave C WFB (Watch For Break) - Break of our 8HR EMA Entry - Safe Entry: Rejection of our SELL zone with a break of our 8HR EMA / WFB (Watch For Break) - Risk Entry: Rejection of our SELL zone - Risk Entry 2: Early break of 8HR EMA / WFB (Watch For Break) Once entered, where will our Stoploss be? - Above our fibonacci: 1850 (60 pips) Where do we take profits? First TP - Structure level: 1730 (1140pips) Second TP - Previous low: 1616 (2280pips) Final TP - -0.27 fibonacci: 1562 (2920pips) Be sure to follow me and check out my other ideas below!
OANDA:XAUUSDShort
by Pips-Collector
GOLD SHORT TO 1687 (MID TERM VIEW)💥:Even though we are bullish on Gold long term, I still believe there's a chance that we could be entering a Wave 2 correction, which could lead into 2023🤔 If you look at the chart, you'll see market has or is just about to finish its 5 wave impulse move, which would mark the completion of Wave 1. This should technically be followed by Wave 2 correction, which should cross back below 'Wave IV' in order to count as a healthy retracement. This gives us the chance to target 1690-1670. This leading into 2023 means Gold will have the chance to grab downside liquidity which is required, before shooting up towards new ATH's. Not just that, a possible hedge position from the 1700 level also allows us to sell towards 1570, if Gold was to break below 1660. 🔴This analysis is only valid following a break below 1758. If confirmations not met, just let Gold carry on soaring🔴
SAXO:XAUUSDShort
by BA_Investments