_VincentP_
Short

Gold continues its decline from 1370 high

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             tried multiple times to break out of 1332 - 1337 region, but failed every time. This proves it's a string resistance for bulls and gives bears the chance to make a move lower. We are currently sitting at the 1322 - 1320 region that must be broken again. If we break it we can finally head lower towards 1310 - 1305 and maybe, if bears still have some energy left, break through. If we break through, there isn't a whole lot that is stopping the bears from going to 128x area.

Rsi supports the bearish direction on 4H but stoch still hasn't changed, this indicator however lags behind quit a bit so it's only a nice to have as confirmation.

The last three 4H bearish candles also indicate bears returing. If current 4H candle can close bearish we should she the above scenario unfold (break of 1322 - 1320 are).

This all becomes invalid if bears can't break lower and head back to 1332 - 1337 for another attempt.
Comment: A small short was successful but nothing more. It already went up before FOMC and shot up after it. Looking for longer bull now.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out