BeFinanceMate
Short

Big drop is coming for Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
See USDJPY&DXY are going down, Gold need to test broken neckline

Sell setup for GOLD

As we can see ascending trendline is broken
now price is pulling back to structure before big drop

Entry: 1289.24-1282
TP1: 1236.76
TP2: 1204-1197.50
TP3: 1150.05-1139.83
Stop Loss: Above 1290.00

Comments

Based on the extended 1W chart, the Higher Low was priced. It's purely bullish in our opinion:

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Thank you.
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The Big drop should be accompanied by strong rally of dx. What do you think about that?
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@fhsk2001, Yes, I agree with you. Until Gold makes a retest to broken trendline, DXY will decline. Then we can see a rally of DXY, relatevly a drop of GOLD
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@fhsk2001,
Watch the correlation
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stop wrong!
+1 Reply
BeFinanceMate Greenpips-online
@fahadfx, ok
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Thank you
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BeFinanceMate Galtamimi
@Galtamimi, Welcome :))
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