As we are reaching to the end of this week, Gold braces for a fall to 1825 dollars! Almost every day we hear a vaccine around the globe passes its human trails successfully. This news undermines the high status of gold as a safe-heaven for risk-averse investors and hedge-funds, as they are already closing their long positions and opening new shorts! (for reference...
Looks strongly like a Bat Pattern:) Hope it plays out nicely.
It is highs unlikely that trend tumbles, but every thing depends on the Brexit deal. If I were to bet, I would go for a juicy short! There might be whipsaws to haunt stop unfortunate traders.
Just short the trade, but let it take its time!
Failing to break a strong resistance, bears are stepping down, probability for a while to catch their breathes for another re-test of the 5-month resistance . A short position opportunity for about 75 pips! Just enjoy this classic double head pattern:)
After a long rally downward, bulls are poised to take control:)