SELL setup at the 60 levelSELL setup at the 60 level is coming to play....
We have a potential H&S forming....this week might be the time we form all time lows
Goldshortsetup
Gold Short Swing Potential Hi Traders,
Ending this week off on a big red after Thursdays crash, gold finding support around 1745.
With Friday showing more buying pressure than selling pressure we would expect price to retrace slightly to around 1773 - 1780 before FOMC.
This would give us a good area to short for the possibility of tapering starting on the 22nd of September.
The Dollar has been very strong over the last few weeks and with inflation on the decline, jobs opening up as well as jobless claims on the decline it seems promising that we could see gold make a new low breaking the 1676 mark.
This would give another very good opportunity to swing long from a good price before Covid Delta impacts the economy.
Resistance on the 200MA as well as a defined downward channel still gives us indication that we are short Gold, it's down until it's not down.
This could be a 1:26 R:R trade, please trade with caution.
This is not financial advice
TH from RT_Trading
GOLD - Short Trade Idea - Big Move AheadThe last Gold idea was not triggered but now the waves have become clearer.
My view of the medium term pattern has changed slightly. I will touch on this in my next gold video.
I am expecting a pretty decent decline in Gold which IMO should be at least 15%.
For now just looking for an entry to short this market.
Entry: $1834
Stop: $1865
Target: TBA
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
GOLD - Short Trade Idea - Trade Wave (C) of Wave DIn this potential short trade we are looking for the start of Wave (C).
Only trade this if the following conditions are met.
Entry: $1830
Stop: $1851
Target: $1744
Risk\Reward Ratio: 4.5
If price goes above $1851 before the entry level is hit then this trade idea is invalidated.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
GOLD - Tracking Minor Waves - Are You Still Chillin? Really?If you are taking other peoples advice be careful!
If you are doing like crypto hodlers and economists by extrapolating be warned!
You will get burnt.
In this video I give you some golden nuggets for free but most importantly I prepare you for what comes next.
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Original Gold Short Idea linked below.
GOLD LONG OPPORTUNITY - CAUGHT OUT BY A STOP LOSS HUNTHey traders,
I was in a long gold position today, unfortunately price spiked down to my stop loss. I linked my previous analysis and trade idea.
Now I'm waiting for Gold to come back down to 1495 at the minor S/R before entering long.
Gold is still in an ascending triangle pattern and for that reason i am bullish.
Price today was unable to close below the bottom line of the ascending triangle pattern.
Risk to reward of 1.6
Daily trade analysis and ideas:
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