#XAUUSD: Bears Around, Downside Expected!

FX:XAUUSD   Gold Spot / U.S. Dollar
673 14 18
XAUUSD             has had some extreme weakness up at the resistance with a compelling shooting star just about hitting resistance to validate the level, and showing more bear candle afterward. I expect a move to structure bottom, a retest and a breakout of the entire structure

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Comment: Update- Due to the BREXIT fundamentals confirming, I negate this idea, as the dynamics of the idea have changed.
Was a clear long 4h hammer was confirmed.
TomProTrader Yahia.Awes
Absolutely nothing to do with technicals anymore. Gold is fundamentally armed.
Yahia.Awes TomProTrader
Sorry it was pure technical, falling wedge, divergence, hammer. If that is not technical then what is technical? If you had drawn a channel instead of a wedge you would have seen more room up.
TomProTrader Yahia.Awes
I didn't mean it like that. I actually meant that technicals hold less value when the markets are volatile. (In my opinion only).

And no, Gold moved due to BREXIT. The technicals lined up yes, but the impulse move was BREXIT entirely that caused this move. But yes the technicals were supporting the move.
Yahia.Awes TomProTrader
Thanks Tom.
I closed profit during bull and then I open order short as your signal !
Have a good one~ Bro~ :-)
I want to get signal for gold vs Usd. Im from Malaysia
1244 isnt out the question...
Weird, my chart isn't posted, the 4h candle looks like a massive hammer. I would not short today if the candle closes like this 40 min for the candle to decide.
+1 Reply
zhipengcfel Yahia.Awes
Short at the neckline 1278 should be a good idea with high h/h ratio.
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