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Gold-short

Gold High Risk to Reward and Probability Short Hello, I will be explaining my short position which i personally think is one of a kind. firstly, gold is not accurately mirroring the economy (as of that day) so this brings me to two things. 1. Gold is being pushed down by vaccine news and 2. the big long traders who love gold wont be entering until a retest (my personal opinion). now lets get to why I believe this. 1. on the 7th - 9th of December gold has pushed up significantly and went back down significantly, has now made a head and shoulders pattern 2. connecting a trend line from November 30th to present time shows me a retest of the trendline via ema 21 (because pushing through it would indicate possible trend reversal retesting that 21 ema was close as it would to the trendline) 3. gold must retest some form of its lower supports in order to move up to new highs. I'm personally thinking 1770s. 4. Vaccine news simply have pushed the dollars "value" indicating very strongly with the need for golds retest of a low to move higher. 5. many other minor things that are too much to get into Conclusion - The trade is low risk, if it doesn't move down just yet gold will probably in the next week find its way to the 1770s no matter. and most importantly the trade just makes sense with how gold has been moving recently. one important thing to say to everyone on gold. trade what's shown not what gold should do, because if that was the case gold should've made record breaking highs already. Thanks for reading!
FX_IDC:XAUUSDShort
by rtx2070ti
1
GOLD FALL from strong RESISTANCE As I said in my previous forecast, gold fell from the resistance line and approached the support line. This was natural, since the resistance line from which gold fell regularly stopped its growth since August. And the breakdown was only in the unstable period of the US elections. During the fall, the price was also able to break through the level of 1853.62 and the resistance line of 1843.88. Now this line also acts as a resistance for the price, which gives one more reason to expect a continuation of the fall. Now the price is close to the support line. I expect her to complete the fall and touch this line. Thus, having come to our goal in the area of ​​1812.48 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
FOREXCOM:XAUUSDShort
by Lingrid
56
GOLD fall to support line Gold is "stuck" at the intersection of the support and resistance lines, so my previous forecast is still taking shape. The price is on the support line right now. However, I expect she will be able to pierce it. This is a smaller support line formed in February 2020. There were at least three breakdowns of this line during the year. The resistance line from which the price falls, although younger, but stronger. Its price broke only in November (elections). Therefore, I expect the price to fall now too. Will break through the support line. And will fall to strong support (2019). The target is 1818.558. ------------------------- Share your opinion in the comments and support the idea with likes. Thank you for your support!
OANDA:XAUUSDShort
by DeGRAM
14
XAUUSD SHORTClear break and retest of a previous significant level. There has also been confluence with the Fibonacci golden zone. Price should reach TP 1 which is the -27.00 extension quite easily because it formally wicked there before. That means that price has now wick to fill . Once the 0.00 extension is hit, I will set trades . both position to breakeven to protect against a losing trade from any sudden major movements. After TP1 is hit, I will let the last position run to the -61.8 extension for TP2.
OANDA:XAUUSDShort
by jacolbywilliams11
Is Gold looking for a deeper correction abyss?It is clear by now that the Gold fantastic dreams of going to the moon in 2020 as the safest heaven asset are proven to be incorrect. Investors are heavily invested in the stock market and digital assets profiting from all the new printed money that is pouring in. For many investors, Gold is the easiest asset to liquidate from their portfolios. Selling gold to reinvest in other winning assets, or cover commitments and immediate debt seems to be a no brainer. Investors will favor selling gold as opposed to sell other more profitable assets. The fact that Gold is falling to achieve new heights in 2020, it shows a much deeper issue with the metals, in which IMO has to do with the way modern investor see it, no longer as a monetary asset, but more like a commodity that they park money occasionally. Bitcoin in the other hand keeps going up, despite many gold bugs wishes of otherwise. Bitcoin is close to revisit its ATH of $20,000 as Gold breaks down unable to secure $2,000, a modern classic investment asset battle took place, and Gold lost. IMO Gold is bound to go much lower in 2021, I can see it breaking down much lower the 200ma, possibly towards the lower 1500 hundreds, who knows, even lower, perhaps the death cross will follow with a long consolidation period. If gold didn't manage to break out in the worse financial year since WWII, it will not be able to do much in 2021 supposedly a recovery year, for those holding it, hedge accordingly.
OANDA:XAUUSDShort
by Allenvik
Bearish momentum is building in bullion as more longs bail out..Not quite as emphatic as yesterday’s gravity-defying feats, yet, but the Greenback embarked on another recovery mission to trade mixed against major counterparts and the DXY at new session highs of 92.566 compared to 92.138 at the other end of the spectrum before fading. US Redbook and house price data via CaseShiller and the HPI were all better than previous or above consensus, while consumer confidence missed consensus but came with an upward back month revision. However, the latest Buck revival looked more to do with position squaring and short covering ahead of Thanksgiving, as month falls on the Monday after the long holiday weekend. Conversely, bearish momentum is building in bullion as more longs bail out and spot prices teeter above Usd 1800/oz where stops could be tripped to test key technical support just below the psychological level in the form of the 200 DMA. Possible next stop is looking like 1780 USD per Oz.
OANDA:XAUUSDShort
by FTUKcom