FUNTRADER-Vera

2609 WKP1 XAUUSD Sell it till 1800-1820, 1740-1797 is possible t

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello traders,

This is definitely a strong bearish signal that GOLD just passed through the average band last week.
Will be no surprise for us that it will pull back to make a new great position to sell on daily chart .

We have a risky one on Friday using momemtumn of NY session to sell on 4h chart to 1855 which worked.

But for next week, we need to focus on daily chart again to see if there is a good chance to sell it again till 1800-1820. Actually 1740-1797 is the lower zone for us to look for before US presidential election. We might need to check with RSI . Once this level for RSI broken, will need to wait RSI DIV in the bottom for buyers which IMO will happen beofore Nov.

Good luck on your entry.
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Comments

Keep selling gold this week?
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Very good analysis, my friend!
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I really hope I can hand on till 1800.
Thank you for your chart.
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Agree, but shorter term is oversold, so i think could bounce to around 1900 first...before dropping to 1800
Reply
FUNTRADER-Vera howard1127
@howard1127, hmm, I would not say so as once trend start, it will continue very easily.
Reply
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