corsicasia

Short on a potential H&S at 1267 for target 1205

Short
corsicasia Updated   
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
I short The gold on a Potential H&S even she not really Active yet so at the price now 1267 for target 1205

- all the last dollars data was so upbeat,like the ISM all PMI the up in wage,now the us GDP and Personal Consumption Expenditures Prices.

So all is in the side of dollars ,in other side when you look at DXY he male a reverse H&S

so i think in swing-long trade this target will happens

just 1 thing make me scary is the risk off when trump will go the the Dmz of NK and SK and also if the market not like the details of tax reform the stock could take a big sell off and so cheating my plan..but ok i go is Forex no ?

Enter at 1267

Target 1205

Gain =62$ (HUGE !!)


Comment:
i still have a unknow predict on this trade because of many uncknows news.
1 - new nomitate fed chair who can make $ down or high much
2 - the tax plan refome same who can at any time make the dollars down
3 - a big correction on equity market who will make gold up
'4-if the Nk topic come back on the table in November
If we are in normal environmant market ,this trade will be quiet safe..but is Market driven by news and surprise speech since 1 month...very not easy for all trade and traders
Comment:
in fact the technical target should be the down T-line since 2011 so if it happens can be is 2-3 week so may will have a upside mouvement first due to NK or bad tax plan release or not apporuved or a new fed chair pres or the selloff in the equity that i thought will happens soon coz for me we are in a bubble already
this 4 factors can make gold up back then after down to my target so need to monitoring the news

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.