goldenBear88
Short

Gold is Bearish on Short-term

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Even though the price broke the Lower High trendline yesterday, it failed to test the #1,635.70 Resistance, so Technically it is still under a Higher High and should turn back any moment. Like I said before as Long as the #1,635.70 Resistance Zone holds, Gold is Neutral/Bearish on the Medium term. The Hourly 4 #MA50 is still untouched ( Gold is not headed that (down) way at the moment), so Technically I still don't have confirmation of a downfall. DX recovered and is near last week's High but this was counterbalanced by the pullback on Bonds. Gold remains relatively High under the circumstances. In my opinion if #1,630.70 rejects the price-action then I will be looking at #1,510.80 Gap fill. Under this volatility best to do if you are a Short term trader is to scalp the price whenever it goes within the Hourly 1 Bollinger Bands . Anything outside this range is led by macroeconomic forces that are difficult to handle with such uncertainty. My first Target is #1,570.80 and #1,540.80 in extension.

Comments

Great idea..and ive been following ur analysis so far..(its amazingly accurate)but..could give me some advice on how i can see the Bearish signal so i could look for the right entry?if the price closes below 1600 then is it good to look for sell?or should i wait for furher confirmation?thanx for ur time and good luck to us all
+1 Reply
goldenBear88 Phantom999
@Phantom999, Unfortunately, providing more than one report/guidance will be unfair to Traders who purchased my service, that's why I cannot allow myself to provide free advices. Thanks for your input and kind words!
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Phantom999 goldenBear88
@goldenBear88, whoops..allrite i got it man,thanx for the response anyway..thats very nice of you
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I'm noticing a large spread (1600 pip) on Gold since yesterday. When do you think it returns to its normal days or Is this going to be a new "normal"?
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Its fine just short restriction on gold
+1 Reply
not your expectation
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