ForecastCity
Short

Don't miss the great sell opportunity in Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
Trading suggestion:
. There is a possibility of temporary retracement to resistance support line (1280.90). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. The RSI is at 29.

Take Profits:
TP1= @ 1272.90
TP2= @ 1260.60
TP3= @ 1240.55

SL= @ 1285.25
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Awesome analysis - is this setup still valid right now?
+1 Reply
@KVARA, You're welcome.
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KVARA ForecastCity
@ForecastCity, OK, thank you.
+1 Reply
Thank you for sharing this and on 1D alone it looks fine. But don't you think we should consider 1W before jumping into 1240 forecasts?

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ForecastCity TradingShot
@TradingShot, Thanks for your comment and sharing your chart.
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Thanks for sharing such a grate opportunity to sell Gold.
+1 Reply
@fxniki, You're welcome.
+1 Reply
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