Last correction before the price EXPLOSION! Short

Gold/U.S. DollarFXCM

Description

⋅ Feb 27, 2020 10:25 AM

Hi All,

As you can see this is a bold short call proposed by a stubborn gold bug ;)

This previous analysis turned out to be very accurate. We have completed the 5 Elliott wave pattern and now I expect a healthy ABC correction.

To support that idea we have:

a nice bearish Harmonic Bat Pattern
divergence on RSI indicator
bearish pin-bar that is not yet completed on the W1 but I expect it to close on Friday this way

SL: 1690 $

TP 1: 1470 $
TP 2: 1360 $

Great Risk/Reward Ratio: 6 !

GL & HF ;)

Trade active

⋅ Mar 17, 2020 12:34 PM

TP 1: reached! after 2 weeks from the recommendation!

Comments

PaulDeep19131

⋅ Apr 5, 2020 7:03 PM

Looks good!

lucamodena

⋅ May 27, 2020 3:09 PM

@zSplit, Thanks! this trade is still valid. Stop loss placed at 1810$. Take-profit at least at 1400$. Still a great risk/reward ratio. The only threat to this trade are central banks with their crazy monetary policy ideas :D Let's see...