SensibullTrading

A correction is possible in Gold

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
The area around 1910 has proved to be a tough resistance for the bulls so far.
Currently, there is a clear absence of bullish price action.

US dollar is consolidating and slowly gaining strength across the board due to
Fed tapering related concerns. The rise in inflation also might be a reason why
investors are starting to price in an early move by the Fed. Thus it makes sense
for US dollar to strengthen and Gold to drop in the coming days.

So, a sell entry@1895-1910 with SL above 1925 and initial TP at 1865 and final
TP at 1823 would be huge sell trade.
Trade active: Sell executed at 1902 as per idea
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Comments

Great analysis mate!
+3 Reply
@KlejdiCuni, Thank you buddy :)
Reply
Do you suggest opening a sell entry now?
+3 Reply
adeel200020 yakshit12
@yakshit12, As per my idea, I think better to wait for 1907 before opening sell. But, ask the idea author for more clarity.
+1 Reply
@yakshit12, I think 1902 was a pretty good entry :)
+1 Reply
good plan bro
+3 Reply
@YMGroup, Thank you brother :)
Reply
good one !
+3 Reply
SensibullTrading AtlasTrades
@AtlasTrades, Thank you :)
Reply
Excellent breakdown, well done. Thanks for sharing 🙌
+2 Reply