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TheTradersAvenue
Sep 19, 2022 6:39 AM

XAUUSD > Gold Might Continue Down to Test 1600 Short

GoldOANDA

Description

Analysis of #XAUUSD


The Gold has broken its long-term support level near 1680, now we can expect this level to be a strong resistance which the market is not going to be able to close above in the short term.

as you can see the market completed 3 waves down and is now in the process of completing the last wave which might be completed near 1600.00.

I am only looking to short this market or avoid it this week, as we are going to have FED rated decision


Please support me by boosting this idea so it can get to more and more traders


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Comments
AtlasTrades
Really like your GOLD chart, I also have the same opinion
YMGroup
Very nice GOLD chart :) I love it
Michael_Winner
super post over here! thanks for sharing your gold chart
ProjectSyndicate
looking good for sure see what we get now
cn_s
According to your studies on the chart when it's expected to reach 1600. Is it within this week or the next upcoming weeks?

Nice idea and I hope that it really does reach that low
InkyGrip
Possible bearish Scenario on XAUUSD
TraderV123
Thanks! FOMC WED at 2pm EST! GLTA!
DemoDiaryFX_Trading
I think 1600 is definetely possible
Solldy
The description is not the most complete, but the schedule itself is very good. Did you consider any news when building the chart?
Lingrid
Detailed and smart
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