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Goldshorts

GOLD FED NEWS DECISION PENDINGYesterday I posted a idea of short sell, there were scenario of buy and sell, I was confident on FED meeting on interest rate decision. But yet not confirmed. Technically speaking it looks like price will continue lower and it will move below the previous lows 1744. Well I recommend you that open small lot size of 0.01 according to your risk management. Wait for FED meeting confirmation on further price action. There will be two scenario In CASE 1 If price goes to the above 1782-85, then the level to look out for is 1810. In CASE 2 If price goes to the above 1772-69 as strong support, then the level to look out for is 1735 and low. AGAIN I RECOMMEND you to take action after FED news and best entry position would be below 1770. FOLLOW for future UPDATES, Like and Comment
TVC:GOLD
by ProTradingPoint
GOLD analysis next target 1735 Gold is in downtrend zone, went top high and formed double top showing a bearish signal as it was unable to hold and break above 1834. Now gold is moving between 1772 and 1748, according to fibb of this month 0.382 our next target is 1735. You can open a short position once it breaks below the 16th sep low i.e 1748. It will take hard time to break that level till that you open short at high between this range. It will sure come down Analysis based on price action on daily basis. Cheers and just chill till it breaks for short position. Follow, like and comment down
TVC:GOLD
by ProTradingPoint
Gold Sharp Turn ahead?Gold may be nearing the completion of an A-B-C correction as per it's monthly charts. Between Dec '11 and Dec '15 Gold declined in a 5-wave impulse move. Since then it has been in a corrective A-B-C bounce. We are currently in the C-leg of this bounce. The price equality target for C-leg comes to around $1590. However it is not uncommon for C-waves to extend to only 78.6% of Wave A. Considering that Gold prices have already crossed the 78.6% extension level around $1525, the room for further upside may be limited. In indian context, this may have price implications for Gold loan companies which have been able to rally against the general market trend thanks to strength in Gold prices. Going forward one may expect weakness in stock prices of these companies as new trend emerges in Gold.
FOREXCOM:XAUUSDShort
by yash_utmani