Gold-short
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🔴
Gold short viewThe price of gold could stop its fall in the zone around the $1720 level. We could expect a potential recovery of up to around $1750.Then, we are waiting for a negative consolidation for the bearish option. After that, we should see a continuation of the price drop to $1700, then $1680 on the 61.8% Fibonacci level.
XAUUSD GOLD short ideaGOLD has taken sell side liquidity ans a swing low in 1H tf.
nowit will retrace back tothe OB and i am expecting a retrace of fibno 79% to 70.5% and from that area we can short XAUUSD by seeing signs as we can see the idea in picture. moreover theorder flow in XAUUSD has shift in sell side .
XAUUSD [ 4H ] EW updateBase on my EW count, current 5 wave(orange) we got another 5 sub wave(blue) and as i can see that 5 sub wave is not finish yet. Possibilty price can go a bit up more to finish the wave and after the daily wave finish(checkout my daily chart update) i will entry short with strong divergence.
XAUUSD [ Daily ] EW updateBase on my EW count, wave 2 (yellow) is about to be finish with sub wave abc(orange) and my target to continue short around 1776-1784 if this zone break then next zone is nearest resisdance.
As my EW count the correction wabe c( orange) we got 5 sub wave (blue). For better view and details check out my 4H chart update
XAU/USD (Selling Opportunity)Short Call on OANDA:XAUUSD
I have a selling bias on gold:
Printing LLs and LHs
Bearish divergence on 1hr
At resistance level
Also, DXY seems like it will get strengthen
As per the 10 years seasonals, gold has been bearish mostly.
Best of Luck!
Your feedback would be appreciated!