SKACAPITAL
Short

GOLD OUTLOOK SKACAPITAL

FX:XAUUSD   Gold Spot / U.S. Dollar
We have a short outlook on gold             . However, we trade what the market demonstrates and not what we believe. As you could see we have a possible bearish harmonic in play; which provides are with the possible target area 1 (1230.00). We have the breakout and retest which has already occurred and can possible see a second retest. Price is currently sitting on 61.8% if price breaks and closes above then we can see price reaching 1277.00 hence the reason of having our safest stop around 1290.00. As each target is met we would be re analysing to distinguish if the targets are still valid. We have a possible bearish ABCD formation to the downside of 1185.00 Target 2.

***PLEASE REMEMBER***

- This is just out projection, strategies would be used in planning entries and exits based on certain scenarios.
- Trade at own risk
Can we say that gold break and retest the 4hour trendline and key level for us to short to Target 2?
+1 Reply
SKACAPITAL haikalwafiqhii
yes of course, you can enter a new trendline and await the breakout and restest then look for the bearish PA confirmation.

snapshot

Reply
When price reaches Target 1 we can expect a bullish move up to Daily Resistance 1280.00 then a move back down from there, hence the reason why monitoring trades once each target has been met is important
Reply
MarlyForex SKACAPITAL
Great idea bro, Target 1 met also
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out