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Bignose79
Sep 8, 2021 5:35 AM

Little longs for today. Long

OANDA:XAUUSD60
GoldOANDA

Description

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Yesterday gold did a nice 300 pip drop which i was looking for it on friday news. Even that I catched the drop as u can see in my yesterday idea.

For today im expecting some correction to 1804/1809 levels. Could be a bit higher to do a retest on ascending trend line.

Dxy Is retesting and I expectec it drop and thats supports my gold correction idea.

After this correction gold could go down again.

Comment

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Reached only 1800. Really stopped market. Lets see what happens on US session

Trade closed manually

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Bearish flag formed... May go down on NY sesion

Comment

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Nice drop! Did u catch it??
Fundamental AnalysiscorrectionGoldXAUUSD
Comments
jerryhernande9
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So your overall macro picture is bearish?
Bignose79
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@jerryhernande9, Hi, I use to daytrade, I try not to have open trades when going to sleep... Since that, my analysis are for one day.
Even that, aswering your question, my main guess is gold will drop on the next days... but as gold is so capricious, I always try to do short term analysis... DXY looks like is gonna enter again on ascending channel and that could mean a bearish gold...

Gold have left the channel, and a drop till 1760 or so, IMO, is possible...

As I said on my first analysis, I'm a newbee, pls always do your own analysis and shere your opinion to learn of you all!
THX!
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