Shortgold
Bullish Three Drive PatternI buy gold at point 2 around $1243 and will close order at target B .
Then I will sell at this point B with target 1.272 Fibonacci Retracement of A2 around $1230.
Gold Double Wave Cycle SellGold Double Wave Cycle sell Idea.
As we can find a bearish divergence on the daily chart as long as the red TL holds Gold is a sell aiming 100% FE of the first cycle.
TP 1 1241.49
TP 2 1226.87
SL 2 pips + spread above last high.
GOLD SHORT ::: RISK CALL :::GOLD is expected to SINK.
There are many reason why we feel it may SINK
* HAMMER in WEEKLY Chart.
* To SINK and come near 1199 LEVELS
* Stoch RSI (3,3,14,Close) clearly states it maySINK.
* RSI(14,CLOSE) Is also of the same view.
* CCI(20,CLOSE) Is also the same
Keeping all the above indicators in view along with the chart pattern we expect it to sink. Our Short call shall be from 1215 with a SL @:1230 Tgt01: 1207 Tgt02: 1199 Tgt03: 1187. We are expecting this to happen shortly. We expect a sharp bounce back by mid week Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
Another Signal to Sell GOLDPreviously selling the Gold with Butterfly pattern is still valid,
now we are going to make another short with the downside level of 1083,
and stopped level at 1112.
Right above the weekly support level.
