Gold short term outlook bearish towards $1830 at least ? Short

GoldOANDA

Description

⋅ Dec 8, 2020 4:47 AM

Gold might have terminated Wave 1 of 5 of C around $1871/72 today. High probability trade direction looking lower from here back into the $1830's and $1800's. An A-B-C corrective drop likely to resume soon.

Intraday/inter day short against $1875, towards $1830 and $1805

Comments

navinvijay9

⋅ Dec 8, 2020 5:17 AM

Can I buy it now and keep it till 1900?? Or will there be retracement and go down to 1750s range ?

harshjapee

⋅ Dec 8, 2020 5:19 AM

@navinvijay9, Consider buying between 1805 and 1830 with a stop below 1760 target above 1950

navinvijay9

⋅ Dec 8, 2020 5:22 AM

@harshjapee, Thank you so much. So for now- do a short sell to maybe 1830sh yeah??

harshjapee

⋅ Dec 8, 2020 5:30 AM

@navinvijay9, Yes aggressive short against 1875/76, target 1830 and 1805/10 then bullish again. Always a pleasure, Best to you!