Bandarsq
Short

Midterm Sell Setup

FX:XAUUSD   Gold / U.S. Dollar
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!
Comment: Here is first Fibo level which I expect Gold will visit once green channel is broken.
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Comment: It's possible that Gold is in wave Y of WXY EW pattern.

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Comment: Possible H&S

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Comment: The main trend is not too far.

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Comment: Well done bears. Congrats! on the breakout.

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Comment: Weekly Line Chart has a clear breakout.

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Comment: I think Gold just formed another lower high.

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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.
Trade closed: target reached: Target 2 reached. Thanks for visiting :)
Nice job!
Reply
Excellently done!
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Thanks.
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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
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avento Nightstar
I thought that Gold has dropped because of a stronger Dollar which almost returned to its post-Brexit (July) levels.
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Bandarsq PRO Nightstar
You can say the same thing about Brexit.

Bearish Flag Pattern - GBP
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Nightstar Bandarsq
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
I simply follow the chart :)
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Nightstar Bandarsq
Good on you..
Let's see if Gold actually makes to $1200. That should be interesting.
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Almost..! Will discuss in closed door
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