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XAUUSD MNT: 30% correction PT BEARS is 1300 USD(SL/TP)(UPDATED)

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
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XAUUSD MNT: 30% correction PT BEARS is 1300 USD(SL/TP)(UPDATED)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT as I expect more losses.
HOWEVER. Entry from overhead. read entire
idea before executing this trade.


🔸 Summary and potential trade setup
::: XAUUSD monthly chart review/outlook
::: strategic outlook for the market
::: updated/revised outlook
::: PT still valid: 1300 USD
::: THIS IS NOT A TRADE SETUP
::: we are already topped out
::: BEARS taking over from here and
::: expecting more losses
::: similar pattern may be observed in 2012
::: distribution before HEAVY DUMP
::: recommend to focus on SHORTING rips/rallies
::: there is no valid setup for the BULLS in this market
::: if there are bounces/rips/rallies just SHORT IT.
::: alternatively review my setup in JDST for 100%+ gains
::: a lot of calls for 2500/3500 USD in gold
::: not possible before we hit 1300 USD
::: my final PT for BEARS is 1300 USD
::: 30% correction from here
::: recommended strategy: SHORT/HOLD
::: 1300 USD final TP
::: TP BEARS is 13000 USD
::: SWING trade setup do not expect
::: fast/miracle overnights gains here
::: good luck traders
🔸 Supply/Demand Zones
::: 1300 USD fresh demand zone
::: 1950 USD fresh supply zone
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment short-term: BEARS
::: Sentiment outlook mid-term: BEARS

RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
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Comments

Nice bro, This is what i am looking right now
+2 Reply
woow

that s a lot of falling and also possible too cause its getting weaker and weaker

thanks for sharing
+1 Reply
totally agree with the analysis
Reply
How long to hold the bears ? What if swing trading sir?
Reply
Amazing Analysis
Reply
Make sense!!
Reply
thanks for this! this is my view on Gold:
Reply
Great Analysis !!!!!!!!!!
Reply
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