If you've read my reviews you know I've been bearish Gold for a while and after yesterday's move, I've become more bearish. Looking at the daily posted chart we can see that Gols has started the year putting in a strong bearish engulfing and, after correcting some of the drop, yesterday we have also a strong Pin Bar from just under 1830 very important resistance. This " double bearish signal" is the reason that I've become more bearish and I think that once 1800 psychological support is cleared Gold will tumble pretty fast and 1720 would be a reasonable target in the medium term. That being said, traders can look to sell rallies under 1830, and as targets, they can look for 1770 and, as I said, 1720. Only, AND ONLY, a consistent break above 1830 would change my strongly bearish outlook
Awesome idea, Probably not yet though, oversold on 1Hour, looking price to retest 1815 Area (Weekly 50%) before a drop to 1779 Support, either that or price could possibly test resistance (1847) before a reversal to support. :)
Mihai_Iacob
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@koiaariki, thanks for comm At 1847 is bullish already
Helena_FX
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The idea had failed badly. Never mind, hopefully, next time.
Arnilia99
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no no no...
Mihai_Iacob
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@thriftySuccess86699, yeah, yeah, yeah:)
Yuriy_Kuznetsov
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I agree with your schedule, I have a similar idea.
kimstandgraph
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Nice and clear
VasilyTrader
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Did you consider coming fundamental data this week?