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tntsunrise
Feb 16, 2018 9:49 AM

Short Gold Now with strong resistance and Tri-Angle Completion Short

FX:XAUUSD60
Gold/U.S. DollarFXCM

Description

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Short Gold Now

1360-1364 is strong resistance
and gold has finished a tri-angle wave in 1h chart.

We can short gold now, SL above 1365.50

Aim 1348 / 1337 1316

Comment

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Nice Fall, Already in money for 40 pips

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OK Price hit 1353.
Our SL is 50 pips, now win 70 pips
already 1:1,
therefore, its good to take partial profit

Comment

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First Target 1348 hit
win 120 pips!
This is a big ANG BO for every one

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Very Nice Fall . 2nd Target also hit

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Market did excatly what we want. so please remember to take profit at least 50%

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tradingview.com/x/Z965gQ9F/Enjoy the fall, next target 1318

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Enjoy the Fall, Next Target 1318

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now is 1321, only 30 pips to Target 3.
+390 pips
Wonderful Trade.

Comment

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Perfect ! Target 3 hit

Comment

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Trend Line broken.
open down side room.
hold the rest of your short

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1305 NOW! Continue fall.

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Big picture.
Supply and DemandTriangle
Comments
GeniusTraderWorldwide
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if people just listen and see the big picture no one will lose
MrHappy8
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@justshortcut, Historical data does not support your view in any way. The world economy is not weak enough to push such prices in gold.
GeniusTraderWorldwide
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@MrHappy8, so i guess we just wait and watch then good luck all
MaeTheMultiplier
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@MrHappy8, "Historical data". Since 1970 it's gone from 30 dollars to 1300. It historically goes up when inflation starts to rise like this. The last time everything was like this was 2006. Gold rose from 513 to 730 OTY, When inflation was rising similar to how it is today, and we were still in a bull market.

cpi.mooseroots.com/l/94/2006-Consumer-Price-Index

I agree we can have a small pullback after such a quick run up, but 1400 isn't very far away from the prices we've been testing.

MrHappy8
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@MaeTheMultiplier, I meant intrayear historical data :) I'm sure we will see 1400+ before the end of 2018
MaeTheMultiplier
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True, his chart isn't very conservative in time frame. I feel like we should have another DCL before we start seeing 1400+ prices.
faisalmd29
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@justshortcut, good idea but jack is correct it's going to retest 1330 before turning higher to 1448.xxI think
GeniusTraderWorldwide
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@faisalmd29, what i know that the price always retest its part of the trend
izak.oliver
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@justshortcut, how much are your loss atm for this trade?
GeniusTraderWorldwide
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@IZak.oliver, a lot of course
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