Sellgold
We are selling gold again! In early August, we sold the gold and closed over $100 - 1000 pips in one trade. - Many people did not get involved in sales!
Last week we sent 2 analyzes for a decline to $1920 - Many people did not get in!
Now we expect a new decline and breakthrough of $1920. - Many people will not get involved in sales.
The main reason for missing most of the movements is that we expect something to happen and seek confirmation only in this direction. If we have an active buy position , our brains will find enough reasons to confirm our decision and ignore all the possibilities for a price drop.
This leads to the biggest losses. If he manages to convince us that there is no other option and we are without a stop with a large volume.
This is welcome for the sharks in the market who are waiting for this fresh blood of the still naive market participants!
The price will go up, but how much will fall before that and whether we can withstand this fall if we have a buy are the more important questions.
Gold - Potential selling opportunity setup Taking a look at the 1 Hour chart on Gold, it has gone through a sharp drop since breaking its record highs above the $2000 level.
Currently now the price in Gold has pulled back higher from its sharp recent fall and is trading in an ascending channel.
This Channel has completed a potential larger 3 drive bearish pattern in the process. Why we like this pattern is that it has convergences at the 3rd drive high which also lines up with the 61.8% Fibonacci retracement.
This current high is starting to look like there is a bit of price exhaustion just below the $2000 level as well.
What we want to see is price start to breakdown on our lower time frames and locate any smaller bearish price patterns in the process to help confirm a possible move lower. We have also drawn a lower trend line as this can also increase the probability for a move lower and expose a good point of execution if this trend line gets broken to the downside for a possible retest entry short.
If the price in Gold starts to continue its rise and trades above the pattern and $2000 level no action needs to be taken.
Gold monthly downside level is BROKENBecause of the broken monthly level line and it is already retested this level. I am directly bearish tonight on Gold , also because the dollar will rise and as i see on my weekly formation bar it is a shaved bearish bar which means it will go down.
Take profit around 1653.00
and stoploss 1683.00
You don't need to look hours to analyse this chart. It is simple and just follow your analytical and fundamentals
Have a nice weekend and nice trading week
React and share your thoughts what you think?
CURE FOR CHINA VIRUS - BREAKING NEWS! - BUY THE DIPS IN STOCKS! WATCH WHEN SEVERAL DRUG COMPANIES LAUNCH A CURE...GOLD WILL TANK!
BREAKING NEWS...
Coronavirus treatment: Vaccines/drugs in the pipeline for Covid-19
www.clinicaltrialsarena.com
GOLD IS WAY DOWN FROM WHEN WE FIRST POSTED TO SELL GOLD...WE MADE A HUGE PROFIT ALREADY!
DO NOT SELL STOCKS INTO THE "FAKE NEWS" PANIC...GOLD IS OVER PRICED, HYPED AND FRANKLY, THERE IS A HUGE RESERVE OF GOLD THROUGHOUT THE WORLD.
DISCLAIMER
This website and our posts are for general information only. No information, forward looking statements, or estimations presented herein represent any final determination on investment performance. While the information presented in this website and our posts has been researched and is thought to be reasonable and accurate, any investment is speculative in nature. StockKid, and/or our agents cannot and do not guarantee any rate of return or investment timeline based on the information presented herein.
By reading and reviewing the information contained in this website and our posts, the user acknowledges and agrees that StockKid, and/or our agents do not assume and hereby disclaim any liability to any party for any loss or damage caused by the use of the information contained herein, or errors or omissions in the information contained in this website or our posts, to make any investment decision, whether such errors or omissions result from
negligence, accident or any other cause.
Investors are required to conduct their own investigations, analysis, due diligence, draw their own conclusions, and make their own decisions. Any areas concerning taxes or specific legal or technical questions should be referred to lawyers, accountants, consultants, brokers, or other professionals licensed, qualified or authorized to render such advice.
In no event shall StockKid, and/or our agents be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this website, our posts or any information contained herein. StockKid, and/or our agents specifically disclaim any guarantees, including, but not limited to, stated or implied potential profits, rates of return, or investment timelines discussed or referred to herein.
Keep an eye on GOLDGold's chart shows an interesting formation today.
This chart pattern has two options henceforward.
At both of them, more likely we gonna see drop around $ 1560 level first.
Once the price drops, it will be important whether it will find support around these levels and continue moving up to $ 1600 or if a breakthrough occurs we'll see deeper drop to $ 1540 - $ 1520 levels.