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I am Short Gold for the next little while. Why See Chart below You can see here that Gold has broken support on the 15m chart. I am short for a while but I have several long term CFD's Long gold positions as overall I see its bullishness especially with the USD in free-fall this week and the USA moving on interest rates next month, however USDX is showing some strength today but many believe it could drop to the 100 level this week. Be careful shorting Gold because there is so much upward momentum at the moment and until it breaches the 50ema on hourly chart I am cautious going short.
EIGHTCAP:XAUUSD
by Easy_Explosive_Trading
4
Short Position: Sterling Pound into the bearish movementHello traders, In this analysis, we see another short opportunity for the British's currency to sell it. Because guys, as Sterling has the bad news of the previously week, this specualte news the U.K. ministry decide it to put bad news for this week about the No-Deal Brexit strategy. On H1 timeframe we are in the clear bearish chartist pattern, that is a bearish rising wedge descendent's triangle, and the movement is continue to shorting this par, Also, if we compare the latest movement using the arrow, in H4 timeframe there is an example, we take a conclusion that Sterling is leadign to the $1.25 USD and that is a drop so near of 300 pips that we could to find down it for our benefit. So, I put a short position and then, we expect that Sterling Pound activated my sell order at $1.2807 USD with a SL at $1.2858, that is 51 pips of SL and my take profit is $1.2512 USD, that mean 280 pips. So, guys in conclusion, this par it's one to take benefit this week, while the Sterling is goes to weakness, that trend is not to wait to stop the trend, also, in H4 timeframe I use the Elliot Wave model, that we are in the formation of the Elliot Wave # 3 Guys, if this idea is support for you, give me a like and I consider that all technical analysis it's work for you!!!
Short
by harisonhbn9718