Gold-short
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!
GOLD Will Go Down From Resistance! Short!
Hello,Friends!
Based on the technical analysis
And the recent minor fundamental news
GOLD looks bearish to me overall.
I think that market-makers will be pushing the pair down
That is why we are going short!
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Gold- Structure remains bearish, in spite of Friday's reversalAfter touching 1620 on Friday, Gold has reversed strongly finishing the day towards 1660 resistance.
Looking at the posted daily chart we can see that the bearish structure is still intact in spite of this almost 400 pips reversal and will remain so as long as the 1680-1690 ceiling is intact.
That being said, my medium-term outlook remains bearish and I expect a new wave of selling.
Also, those of you who are calling for a double bottom should know that this pattern is confirmed ONLY by a break above 1725