TomProTrader
Short

XAUUSD: Nice Area To Take Shorts, Few Things To Consider! #XAU

FX:XAUUSD   Gold Spot / U.S. Dollar
852 14 13
Traders,

Nice shorting opportunity here, theres a few things to consider. There is a potential butterfly in play, which may give us profit taking targets in the future. Whether we hit these prz's or not doesn't matter, as the Butterfly pattern isn't complete and confirmed.

However if we are short and come to these levels, people might buy up these positions, so take note of the price levels on the chart for future reference if you have an interest in shorting this thing.

Regards
Tom
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Tom, check out gold/silver ratio...tell me what you see. ;)
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might spike up
snapshot
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Yahia.Awes Yahia.Awes
I don't rule out 1162 before going down further.
snapshot
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I think it would be extremely unusual, at this point, to turn around and test the last higher high.

Tom
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Yahia.Awes TomProTrader
All smaller timeframes showing bullish divergence.
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Pullback could happen, who knows. But test of higher high, doubt it.
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Yahia.Awes TomProTrader
Time will tell, depends on how fast the rising wedge is tested. The longer it takes the higher the retest could be.
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Yahia.Awes Yahia.Awes
As I told you, too early to short... Look at the weekly candle, omg!
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Too early to short mate? Lol. If you look, I made a fortune, and my target was hit before the price rebounded, therefore I not only predicted and profited from the down move, I also correctly predicted the level where price would come back up as well.

Tom
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Yahia.Awes TomProTrader
Good that you monitored well, some traders lost a lot on shorting gold there.. Weekly hammer is not a joke anyway.
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