GOLD - XAUUSD - Shorting Opportunity with Good Risk Reward

2024年11月20日

GOLD (USD) - CMP $2630

TF: 90 Minutes

After a 5 wave decline, price has moved up in a corrective bounce. And now getting halted/rejected at the 200 Period EMA which is also the previous support zone (now turning to be Resistance)

I was hoping for it to test the AVWAP from the highs $2660 (which is also about 50% retracement of this entire fall)

Even if Gold has to go up, it can't be a V shaped recovery.. It will come down to retest the lows at the least or even 0.618 Fib of this entire corrective rise.

For Aggressive shorts 2645 will be the SL (2 candles close above).. But I would still prefer a test of 2660-70

2024年11月21日

交易結束：達到停損點

Price moved about the resistance line and all key moving averages on 4 hours time frame and below. We could expect a pullback towards 2600 still.. but this trade is closed SL HIT