GOLD: The Next Pullback Into A Potential Short

FX:XAUUSD   Gold Spot / U.S. Dollar
Looking for a simple trend continuation trade here on gold             as the market consolidates in it's latest pullback. The "Initial Killzone" that i drew out is a combination of the two bigger killzones that I've identified combined with levels of Fibonacci ratio confluence.

If you were to zoom out to the daily chart you'll also notice a previous level of structure support that may now act as potential resistance rest there as well.

Speaking of the daily, i'm getting somewhat of a mixed signal from the chart. An initial looks shows clear sailing down to 1100-1050's level, however I would suspect that the previous level of inside consolidation won;t make that ride so easy.

Not to mention the unexpectancy that comes with this being a non farms week.

It can go down again.
+1 Reply
Akil_Stokes oguzhanatman
@oguzhanatman, Thanks for sharing your idea!
Gold targeting 1383 > 1430.
Good Luck.
+2 Reply
Akil_Stokes TheZabisyu
@TPparadigma, Man, I hope you're right, I would love that!!
Inzunza Akil_Stokes
@Akil_Stokes, Akil check this out bro. Gold is still bearish to 1140...
+1 Reply
@Inzunza, Thanks for the share!
Inzunza TheZabisyu
@TPparadigma, not yet. Gold targeting 1140 first...
+1 Reply
@Inzunza, There's a lot of downside opportunity
+1 Reply
Inzunza Akil_Stokes
@Akil_Stokes, for shure, it is... Believe Gold will do that...
Inzunza Akil_Stokes
@Akil_Stokes, Lot of pips for you bro lol...
+1 Reply
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