tntsunrise
Short

Two possible senario for the NFP impact on Gold.

FX:XAUUSD   Gold/U.S. Dollar
2457 14 90
NFP COMING
Be ready for these two senario:
1: Gold             Rally, pay attention to 1254.26,
if can't break this level, get ready to short.

2: Gold             falls , it wil test 1205 level and
if break this level, gold             will futhur decline to 1193-1195
and 1137

Currently I am still holding my short position at 1281
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NietoFX
8 months ago
Great analysis for Friday news... thanks again for share
Reply
Jackteo
8 months ago
Good call short at 1281. Thanks for sharing.
Reply
seavniv
8 months ago
I learn much from you. :)
Reply
rashidkhokhar78
8 months ago
Nice to trade
Reply
Trendhopper PRO
8 months ago
Looks to be in a nice downward wedge, so any break to 1254 would break this trend so continued selloff more likely I feel, expecting Fridays news to be positive in line with recent months which will also send it down, best to wait first though, as you could easily get wiped out if you guess wrong!! 1281 was a brilliant entry, i entered that trade as well but sold around 1250, just goes to show that psychology is probably the most important factor in trading.
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tntsunrise TOP Trendhopper
8 months ago
yup
Reply
thulasi
8 months ago
Thanks .i think it will reverse around 1153 and fall towards 1193 but then it will go up to 1300 here is why 1)current move to the downside is corrective move as ABC not impulsive 2)corrective move unfold within a channel unlike an impulsive move which breaks out the channelling(we just saw with eurusd it was falling for 5 days within a channel then suddenly boom) 3) 1193 also .382% fib for the previous larger upper move and .382% fib is a common for the 4 th wave meaning a 5 th wave will follow 4) Gold and eurusd are kind of correlated looking at euro after a down move euro will once again rise and rise towards 1.2 so could Gold .Thanks again
Reply
staurum PRO
8 months ago
hi .... so ur iimplying that gold will work towards 1250 regardless and we need to see if it breaks or not?
Reply
NietoFX
8 months ago
snapshot

Gold in key level
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PangBlood
8 months ago
Jack, the past 3 days price action looks like a bullish bat, what's your opinion
snapshot
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tntsunrise TOP PangBlood
8 months ago
yes this is a small bat and price did went up to 1223, I am waiting it complete the 2nd target of 1230 to short
Reply
PangBlood tntsunrise
8 months ago
Thanks Jack! Thanks for the lesson
Reply
PangBlood
8 months ago
Jack, I hope you wouldn't mind sharing your opinions on Gold Miners GDX
Thanks
snapshot
Reply
crncy PRO
8 months ago
snapshot
Reply
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