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VasilyTrader
Jun 24, 2020 11:04 AM

GOLD (XAUUSD) Key HISTORICAL Level AHEAD! Important Update! Short

GOLD (US$/OZ)TVC

Description



hey guys,

what a bullish rally on gold.
3 strong bullish daily candles in a row...

HOWEVER, analyzing the historical perspective we may notice that price is entering a historical resistance cluster:
1780 - 1802 is a supply zone based on 2011 - 2012 price action.

on a daily the price formed a harmonic movement with D point lying perfectly within the underlined structure.
based on that I want to warn you that it is too late to buy and now the best option for us it to wait for a intraday short trade.
(or if you are bullish biased, not trade at all until a good long entry on discount)

pay attention to the price action on 1H and look for a reversal formation.
I will try to catch some quick short trade but for now PATIENCE!

good luck!

Trade closed: target reached

Watch new VIDEO on OIL!!!
Comments
VasilyTrader
Will gold retrace? what do you think?
2b1d83a7071a4dfb85a2e22d522a69
Good idea as usual Vasily
So when can we open short trade ? What is the indicator ?
VasilyTrader
@2b1d83a7071a4dfb85a2e22d522a69, I would say that a good signal for us is a double top formation on 1H or some descending triangle
VasilyTrader
@2b1d83a7071a4dfb85a2e22d522a69, You know, here we will trade against the trend so we should be very very careful
ThaDocta
long gold for the next 3-5 years as far as I'm concerned. If there is a big dip I'd rather buy than try to short right now.
Asanato
Great Idea! Look at mine

VasilyTrader
@Asanato, good outlook!
smiley1910
Technically great, fundamentally this should go up.
VasilyTrader
@smiley1910, thank you for comment!
KaltoireCapital
Great idea
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