Hello everyone, gold is now clearly on a bearish trend with perfect head and shoulders formation more formation of the 3 (impulsive wave) of the down trend, it will reach 1750-1700 maybe lower as 1600
Im shorting at the correction and TP at 1750-1700
Good luck everyone
Gold is completing an expanded flat that is why it created a new top in 2020, and has already started wave (C) of the larger correction , that means Gold is extremely bearish in year 2021. I believe that Gold has already created base for the massive decline , and will move sharply down in next 2-3 months surprising most the people. Putting it out there to help...
If you see my previous analysis on gold we see I predict what it gonna happen in short term. Although i though it was a little correction to up strong. It was lateral in a time after do a big increase.
If you see it broke completly the channel long term to do a completly new channel bullish. That happen when...
General Electric (GE) chart - No fundamentals here - it shows what might happen on chart in relatively short period of time.
Similar to GOLD timeframe and market structure - pre 2007 on GE, what will be next?
XAUUSD will roll over from the current liquidity region, and bring price closer to the $1500 support floor.
The $1533 psych level provides us with an ideal barrier for stop loss placement.
Trade safe, manage risk, enjoy.