XAUUSD Sell Signal Short

GOLD / U.S. DOLLARICE

Description

⋅ Jul 8, 2020 7:04 AM

Pattern: Channel Up on 4H.

Signal: Bearish as the price hit the Higher High trend-line of the Channel Up with the RSI also reaching the Resistance.

Target: 1,780 (near the 4H MA50 and Higher Low trend-line of June 15) and 1,770 in extension (Higher Low trend-line of the Channel Up).

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Comments

GoldBasis

⋅ Jul 8, 2020 12:08 PM

Shorting gold? Much too risky!

thatguyjamalx

⋅ Jul 9, 2020 9:08 AM

I don’t think so. It will keep pushing.

Khairi_RL

⋅ Jul 9, 2020 5:00 AM

If u look at it closer, it will do a downhill retracement then go up, way up. Theres no engulfing or candlestick signal for reversal and no news able to reverse the bullish momentum yet.
However conparing your analysis and mine, itll most likely touch price 1780.

sisu88

⋅ Jul 9, 2020 4:02 AM

A clear break out and bull flag.. Gold is going up!

Wolf_of_Trading

⋅ Jul 8, 2020 12:07 PM

good work and this is my idea

Phi-Deltalytics

⋅ Jul 8, 2020 11:26 AM

Agreed. Thanks for sharing!

AB-9808us

⋅ Jul 8, 2020 7:57 AM

At which level will invalidate short?
What do you think?

KG15

⋅ Jul 8, 2020 7:12 AM

Nice set up ,I'm also waiting for the break out