gdf_fx

Gold Shorts - weekly timeframe

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
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4
I see alot of people talking about gold longs due to its safe haven status however I do not think we see real safe haven flows into Gold as we do with CHF/JPY etc

I am more inclined to look for shorts with my bullish dollar bias.

Additionally, previous week pin bar rejection in a consolidation zone signals shorts entering the market

we still haven't had a proper test of the channel since breakout and a nice support zone exists just above the prior channel resistance. this is a good target area of liquidity.

My ideal set up however, would be another push by gold up to 1421 which lines up with a 50% retracement and key resistance.

very low volume at this level/area would have me selling a weekly rejection candle in the area.

Dont forget this is a weekly chart not an intraday

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