selfrighteousgambler
Short

POTENTIAL GOLD SHORT @1132/1136

FX:XAUUSD   Gold Spot / U.S. Dollar
GOLD             has been falling for a fair few months and following the trend, selling short is a better idea that buying for a long move.

As can be seen, supply areas are being respected. Demand zones are getting violated.

While I wait to buy at $1,000 an ounce, I am looking to also sell Gold!

The area marked out is an area where price trading took place. This is evident because of the sideways action. What makes this supply area interesting, is the strong move away from it. This indicated that, even after the trading that took place, sellers overwhelm buyers! There weren't enough buyers. They were exhausted and when supply exceeds demand, prices fall.

When prices return, I want to be selling short if and when prices return to the area with a protective stop loss above if it doesn't work out.

EP: 1132/1135
SL: 1140
TP: 1070

REWARD/RISK RATIO: 8:1
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out