XAUUSD/GOLD - Next Move Loaded Short

GOLD / U.S. DOLLARICE

Description

⋅ Feb 20, 2021 2:11 PM

XAUUSD was in a clear downtrend last week, a good chunk of the long term buyers in the market would have now been wiped.

According to sentiment, the masses are buying this metal aggressively.

A supportive level was created at the 1770 region, we then saw a purge and revert after gathering buyers liquidity.

We also saw a purge and revert after pushing above the key structural level marked.

I am bearish bias on gold but this could shoot either way.

If the metal remains below the structure marked, it should follow my arrow into the desired target of 1736.

Comments

Genti2687

⋅ Feb 21, 2021 2:46 PM

Your idea is just 👌👌👌

Seremitaggio

⋅ Feb 21, 2021 11:13 AM

have you checked the higher timeframes such as monthly?? seems like price may keep consolidating and compressing just above 1765

TRADESBYZION

⋅ Feb 21, 2021 10:54 AM

🙏🏾💙

mindvest

⋅ Feb 21, 2021 7:37 AM

I agree , I think we can hold for larger targets

bossmadep88

⋅ Feb 20, 2021 6:15 PM

only guy i agree with all the time last week was wierd toward thursday friday and am sure the dollar has room for growth before the drop so am still buy on usdcad and sell xauusd