ForexTrendline

We are expecting a breakout on GOLD!!!

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
The idea of a downside move is still there. The 1785 support is also still valid.

We are expecting a breakout of this support so we can then get involved into a short positions targeting 1748.
Entries before that are considered risky!

A breakout means price closing below the level - in this case even below the wicks that have tested this level multiple times.
That would mean bears are taking over and they will gain momentum.

If price goes above 1804 then that will slow down this move.
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Comments

@Di3_, it will be once it closes above the resistance zone, still a chance to see price lower.
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@ForexTrendline gold has reach never retested zone.. so if stays below i filled all losses. lets see
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@Di3_ you didnt predirect that, buy next time you should. you have to look all channal.. even dxy was showing downtrand.. but not too much. anyway, keep save and hava a nice day
+2 Reply
patient is the answer
+1 Reply
I go back and forth for gold lately. first I think it is to buy, then next thing I think I see sell. I like your opinion and it give me a some ideas too. So thank you very much! 💕
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Great idea. Would be careful as 1783 is the retest of the breakout. That's the area it needs to break below in our opinion.

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ForexTrendline KnightsofGold
@KnightsofGold, nice one, cheers!
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Is gold falling or in consolidation period
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Great idea
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