immygak

GOLD daily and 4 hourly bearish into 1850 XAUUSD

Short
SAXO:XAUUSD   Gold Spot / U.S. Dollar
I did not post the last set up I did few days ago, I just opened my MacBook and traders view window was open just went through the trades and seen that gold has went into 1950s area from previous lows which is 0.61 fib retracement. This time I expect gold to drop into 1850s and make new lower lows. The reason that gold went from 1880 to 1950 because it closed previous traders positions and hit their breakevens and stop losses that were previously going short from 2,000 and above / below. The market will make traders panic and avoid going short because they think now the market is going to go up but the market is in down trend by looking at daily and weekly candle sticks.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.