FXHighway
Short

Gold: waiting to resume the decline

FX:XAUUSD   Gold Spot / U.S. Dollar
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630 8
Slight bullish attempts to trade above the head & shoulders' neckline, and turning back to trade negatively below this line.

Negative pressure from the EMA50, plus bearish signals from stochastic

Targeting areas near 1146.00, with risk limit above 1215.00.
Lets just be aware of any reversal might be under construction now
End of year might carry some surprises, hoping to witness positive surprise for our position :)
+1 Reply
I think the head is the end of wave A, and we have just finished wave B, now wave C up to 1250-1270 to finish the correction.
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raggatanz benrussell
I think that to start wave C gold has to go down near the TP of FXHighway and then it will rise up!
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I agree with you! I opened gold sell at 1199
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FXHighway raggatanz
Good luck
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raggatanz FXHighway
thx;)
Reply
Good one, good luck
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FXHighway Technician
Thank you my friend
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