price imbalance tradehello fellow traders.
i placed a short on gold, cause i expected proce to come back to the imbalance area (market needs to rebalance the scales) after we spiked up into a liquidity zone.
Gold-short
Silver Decending Triangle: Strong Short SignalSilver hasn't seen the strong short selling pressure that Gold has seen recently. Yet.
Silver notoriously lags Gold, we saw that earlier this year during the great bullish move of gold. Now, Gold has seen strong short selling, will Silver follow suit?
I consider the $22 and $20 as main supports, they should return some nice R/R ratios.
GOLD: Forecast & Technical Analysis
GOLD reached a strong supply zone.
Based on our outlook the market will drop
to the underlined support.
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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.
GOLD: Will Keep Falling
GOLD is coiling on supply zone.
Based on our analysis the GOLD will go lower.
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Gold - Short - Key Support BrokenIn our last Gold analysis we advised we were holding our short view despite limited price action and we were targeting support $1824. Now that this level has been broken, mainly due to news of successful coronavirus vaccinations, we expect prices to fall further in the coming trading sessions.
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.
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.
GOLD: Weak Market & Bearish Forecast
Hey traders,
Here is our analysis on GOLD.
The level where the price is trading right now is decent
and the price will most likely bounce from that.
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Gold - Still Short Despite Limited Price ActionWe still hold a short view on Gold despite limited price action after Pfizer's vaccine announcement caused a sharp drop in the precious metal. We believe the continued uncertainty over the size and timing of the US stimulus package would put further pressure on Gold and lead to a drop towards support at $1824.
GOLD: Weak Market & Bearish Continuation
Hey traders,
Here is our forecast on GOLD.
The level where the price is trading right now is peculiar
and the price will most likely bounce from that.
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GOLD start falling from resistance line Gold slowly but surely continues to whip at our target.
Over the past week, I talked about the fact that the price will first reach the resistance zone (1897.71) and then begin to fall.
12 November
the 13th of November
November 16
As mentioned in my previous forecast, the price has reached the resistance line and is already starting a downward movement.
On its way is a support line and a support zone.
But I expect the price to be able to break them.
However, these zones will affect the movements - corrections can be expected.
The final target is a strong support line around 1810.00.
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GOLD open SELL TRADELet's remember that in mid-July, the price bounced off the support level and rose rapidly.
It was a very strong rally, and for almost 4 months since then the price has been in a big downtrend. Of course, there are also ups and downs in price inside it. These movements are caused by two rather strong lines: support and resistance.
Now the price is just at the line of resistance.
As we can see, despite the fact that the line was formed only in August 2020, it has been holding back the price growth more than once.
The only time the price was able to break this line happened on November 3-9 - as you remember, it was at that time that the tense US elections were held.
Now I expect the line to be strong enough to stop the price growth. I think she will turn around and start falling.
And this is an excellent signal to open a sell trade!
I think that the fall will be quite strong, so the expected TP will be in the support zone.
And I never tire of reminding you of the importance of SL - set it above the resistance line.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
GOLD will break support line and fallOver the past week, I've made minimal adjustments to my Gold forecast.
It continues to move as I said. First, it broke through the support line.
Then she came to the resistance zone.
As I said, the zone is strong and I expect that the price will not be able to break through it.
Now I expect the price to start falling from the resistance zone
Since the zone is strong, it should have enough resources to break through the nearest support line. And fall to the support zone at the intersection of the level and the support line.
The support line is also the lower line of the old rising channel (2019).
Target - support area.
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XAUUSD SHORT LONG TERM im not confident on this set up at we still need to see how the market opens, but this is what i can see from the information available as there's a lot of selling pressure on the higher time frames i think we could potentially see the break of this range (marked with white horizontal lines)
GOLD will fall after correction movement Gold is in no hurry to make sharp movements and my previous two forecasts for it are still being formed.
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2.
The price continues to move exactly along the support-resistance line.
This line appeared in the middle of a very old channel.
It has existed since October 2019.
Now the price has broken through the line again.
I expect it to grow minimally. It will push off the resistance line (August 2020) and after that it will be able to fall and break through the support-resistance line.
Thus, the price will go down to the lower channel line.
The target is the support line.
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GOLD return to rising channel\ start fallAfter breaking through the support line, gold returned to the rising channel and I expect it to fall to the lower line of the rising channel.
My yesterday's trade expectations remain.
But it should be borne in mind that now the price is on the support line and it is better to sell from the resistance line above or after breaking this line.
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GOLD price COLLAPS and new FALLDuring yesterday's trading day, gold collapsed, losing almost 1000 points in positions!
The last such collapse occurred at the beginning of August, slightly less - in the middle of September.
Right now, the price has already begun work to restore positions. During the collapse, she came to the line of support, was able to push off from it and is now growing.
In addition, during her growth, Chena was able to break through a small area, which now also acts as a support for her.
I expect the price to rise to the nearest resistance line.
This line enters the resistance zone - the close location of the level and two lines.
Therefore, I believe that the price will not be able to break through this zone yet. On the contrary, it will turn around and start falling. The ultimate goal in this case is the support line.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
