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PA-FX
Jan 13, 2017 7:36 AM

A retest and double top opportunity! Short

GOLD (US$/OZ)TVC

Description

Gold been trending up nicely, respecting the TL and the 4H 20 MA. Price hit major resistance one time and got rejected, and bouncing up back from the TL now. We may see a double top scenario and have a opportunity to short for that reason.

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Comment

Possibility of the double and divergence top is ongoing, look for the close of this 4H candle if it close as it is now or more down.

Comment

Two levels to watch:

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Gold giving it a fight!

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One clear, two left. Which one is next to join?

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Gold is struggling to makes new highs, and we still have bearish divergence:

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When you wait and get the reward :)

Comments
Grafix
waiting still for a double top like u say it in your Grafix
Grafix
nice Grafix u have. I'm watching out EURUSD till 1.0737 and same time GOLD for a short and looking structure for search a entering to going short next week. good luck Buddy**** (I'm still long EUR from 1.0473)
Bug
ok thanks, how do put sl and tp
Bug
hi didn't wait for candle close , where did you entered /
PA-FX
@Bug, 1190.31
PA-FX
@abozahra, There will be a retest for sure so no rush, i maybe little early here.
Bug
yes , I am also looking for breakout
PA-FX
@Bug, Good luck! looks like it will take to next week :)
FarhadKurbanov
i think it go higher . usdollar going down back to the chanell . all cross currency will go up.
PA-FX
@FarhadKurbanov, that's a possibility yes, all we do is watch the major levels as this one here and do what the chart tell us to do :)
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