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khansalarehsan
Nov 8, 2019 9:33 AM

Again Gold Short Short

FX:XAUUSD240
Gold/U.S. DollarFXCM

Description

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Yesterday Gold's trade hit its target in a few hours. The 2% drop caused by the breakout of USDJPY.
If USDJPY keeps rising today we shall see more investments getting out from precious metals and investing in stocks.

Comment

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1461 first target

Comment

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1458.97 is a critical point for this market as all Long term buyers have their SLs around this area as they believed it is a Bullish Market. Having the SLs hit you will see crazy moves coming out. This is also an area where Long term buyers may enter !

Comment

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1450 is a reasonable target as on H1 it reaches the lower band of the channel

Comment

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Just broke it

Comment

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Trend Analysis
Comments
iman_1359
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Hi.next week we will see 1400.china will win the economic war..
khansalarehsan
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@iman_1359, It may take as long as 3 DEC at WTO but I agree this is more likely
Alexjatom
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Thank you! My exit was 1456!
Blessings always!
khansalarehsan
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@Alexjatom, Great mate. thanks
r3incarnation
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I think it was a fake breakout in 1h chart but in 4h its not obvious . You think is gonna correct till 1478?
khansalarehsan
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@r3incarnation, My members and I already exited at the low. I will get back again at the fresh low IF it gets back
r3incarnation
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Me either . Cause i dont believe in correction at a exact level in gold
khansalarehsan
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@r3incarnation, Cool, plus who can sit on hand for 3% correction for a volatile market like Gold. Great job mate
r3incarnation
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You too boss ! Welldone
khansalarehsan
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1450 is a reasonable target as on H1 it reaches the lower band of the channel
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