Bandarsq
Short

Midterm Sell Setup

FX:XAUUSD   Gold/U.S. Dollar
4 months ago
XAUUSD             has a clear RSI Bearish Divergence on 3-Day chart. I will keep an eye on the uptrend to short the breakout.

This trade is suitable for a midterm position trader.

Cheers!
4 months ago
Comment: Here is first Fibo level which I expect Gold will visit once green channel is broken.
snapshot
4 months ago
Comment: It's possible that Gold is in wave Y of WXY EW pattern.

snapshot
4 months ago
Comment: Possible H&S

snapshot
4 months ago
Comment: The main trend is not too far.

snapshot
4 months ago
Comment: Well done bears. Congrats! on the breakout.

snapshot
4 months ago
Comment: Weekly Line Chart has a clear breakout.

snapshot
4 months ago
Comment: I think Gold just formed another lower high.

snapshot
3 months ago
Comment: Bears waste no time. Yesterday drop surprised everyone. I honestly had thought the drop wouldn't have been this sharp.

Target 1 hit. Next is 1240.
3 months ago
Trade closed: target reached: Target 2 reached. Thanks for visiting :)
It's never been a free market and will never be.

Related Ideas

wsbza PRO
4 months ago
couldn't agree more
Reply
Bandarsq PRO wsbza
4 months ago
Last Friday, the low and close prices are the same 1327.17
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AdamHong
4 months ago
endorse your opinion
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Bandarsq PRO AdamHong
4 months ago
Gold just formed the third peak, a second lower high.
Reply
I agree with this analysis. The "Smart money" is positioned for a selloff in the commitment of traders report.
Reply
Bandarsq PRO Legit_Kittens
4 months ago
True. Demand died as per volume too.
Reply
snapshot

I don't see the divergence here.
Reply
VRShaiju chartwatchers
4 months ago
Hi Arpi..! This is called regular divergence. The very 1st divergence
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Bandarsq PRO chartwatchers
4 months ago
Some inner waves have divergence and some don't, but the main wave, the 2016 uptrend, has a clear bearish divergence and it seems taking effect.
Reply
albertwt
4 months ago
@Bandar, Many thanks for sharing the analysis, I believe Gold is going up during this uncertain event (pre-US Election, Money Printing (QE) and Negative Interest Rate).
Reply
VRShaiju albertwt
4 months ago
We are talking about positive interest rate :) Where do you read negative interest rate? Do you know why Japanese implemented negative interest rate?
+1 Reply
Nightstar
4 months ago
I love how I am so 'not on board' with your Analysis Bandarsq, Lol! I realize that anything is possible in this day and age but there's no way in Hell Gold is going back down to 1200 :/ At least not in the middle of a Bull Market.
Reply
Bandarsq PRO Nightstar
4 months ago
I'm glad.
Reply
VRShaiju
4 months ago
Almost..! Will discuss in closed door
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Bandarsq PRO VRShaiju
4 months ago
Next week will be interesting.
+1 Reply
albertwt Bandarsq
3 months ago
So do you mean this week or tomorrow meeting ?
Reply
Nightstar
3 months ago
Nicely done, but let's be honest Bandarsq.. The only reason you're banking on this trade (so far) is because the bullion banks are manipulating Gold to their advantage :)

http://www.thedailyeconomist.com/2016/10/london-dumps-1000-tons-worth-of-gold.html?m=1
Reply
avento Nightstar
3 months ago
I thought that Gold has dropped because of a stronger Dollar which almost returned to its post-Brexit (July) levels.
Reply
Bandarsq PRO Nightstar
3 months ago
You can say the same thing about Brexit.

Bearish Flag Pattern - GBP
Reply
Nightstar Bandarsq
3 months ago
How so? Everyone thought Brexit was never gonna happen and shorted Gold instead! Why do you think the Banks are manipulating the Metals right now as we speak? To get out of their shorts of course!! Sneaky buggers, Lol!
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Bandarsq PRO Nightstar
3 months ago
I simply follow the chart :)
Reply
Nightstar Bandarsq
3 months ago
Good on you..
Let's see if Gold actually makes to $1200. That should be interesting.
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Pandorra PRO
3 months ago
Excellently done!
Reply
Bandarsq PRO Pandorra
3 months ago
Thanks.
Reply
archer08
3 months ago
Nice job!
Reply
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