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Selling

SHORT GOLD (xau/usd)We are in a quite important time for gold at the moment, My view on the commodity is bearish longterm down to potentially 840.00. That said Gold is currently showing another short term selling opportunity opportunity. After breaking 1200 last week (which I called in a previous previous gold post) we are currently retracing slightly back up to that level once more. This also lines up with the 61.8 of the previous downward move and the top of the current downward channel. with these confluences in mind i will be looking at price action around this level for multiple rejections or reversal signs. should we get a valid rejection signal targets will be down at 1160.00 and beyond to 1140.00
FX_IDC:XAUUSDShort
by Joe_Keegan
1
HEAD AND SHOULDER NZDUSDNZD/USD IS displaying a large head and shoulders pattern on the daily chart. This trade at the moment is presenting an excellent risk reward of 1:4.5 should the market retrace slightly back to structure after selling off at the end of Friday. if market does not retrace and continues lower a strong 4 hour close below 0.70005 will also present an opportunity with slightly less of a risk reward but still very favourable. initial targets at 0.68500 2nd target at 0.66000
Short
by Joe_Keegan
EUR/GBP - Breakdown of structureThe same pattern is visible on all GBP-crosses this morning. Strong counter trend impulsive move closing below/above swing high/low, indicating the counter trend players have had enough and want to see a stronger pound. If this structure holds and we see a pullback towards the short-term corrective structure top I am looking to go short around 0.89930, targeting 0.89700 primarily and thereafter the incoming support zone around 0.89150-0.89320.
Short
by Sascha_Gogolin