PooyaSalehipour
Short

The gold is over

FX:XAUUSD   Gold / U.S. Dollar
1049 12 20
Dear friend's

The gold             is on very sensitive situation. i think the bullish movement of gold its over, and it could be move down to 990.

* Alternative scenario is fix over 1350 then we move on free space and we can access to 1427 then 1521 area.

kind regards,
P.salehipour
Trade active
Comment:
snapshot
Comment: its possible to move 1427
I guess you can not say about divergence yet. There would be divergence if the next candle is below and RSI is down. I am not giving opinion about bullishness or bearishness here.
+1 Reply
i can not say that this is divergence and thats why i didn't talking about divergence in my comment blow chart. so, it just mark on the chart for remember the next candle confirmation. thanks for your comment. ;-)
Reply
xiiimik PooyaSalehipour
Got you! Good stuff!
+1 Reply
You too....
Reply
I think gold is likely to test 1350-1355.. then down to 1300.. we still have many uncertainties in the economy so my opinion is that traders will take some profit and carry on being long.
+2 Reply
Dont forgot we dont break the long term bearish trend at the moment. it could be by break 1350 and then fix over this.
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HanHarbin PooyaSalehipour
Where is the long term bearish trend?
+1 Reply
if you are long term trader i suggest you to get sell position here with $100 SL and 200$ rewards
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it seems that the last run in gold occurred with a cycle inversion pulling a lot of energy in the upside and sucking bulls in. This might last till the end of the month and then the 990 level will become likely
+1 Reply
definitely yes. absolutely agree with you.
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You gonna be trap... 1300 is new support for now... Gold is highly bullish in ply... Short can an occur about 10-20$... After tht all the ways up to 1400 1500... High chance the fed not rate hike of this year... Helicopter money on its ways
+1 Reply
pmcllc PRO Sakakikunmakio
that would probably be the case if a cycle inversion would have not been violated by the Brexit event. Now that has been violated it is very hard to make a case for a healthy bull market which are usually after a severe clean up of bulls.
+1 Reply
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