GOLD - Reasons to short/sell this coming week!

2023年9月2日

I have an opportunity to short GOLD this coming week for the following reasons that can be seen in the chart.

1. Triple rejection at the 61.8% retracement of the recent swing low. Which is the starting point of my TCT PRZ up to 78.6% retracement.
   
2. Divergence formation in the H4 timeframe
   
3. Market coming for an overbought status (showing divergence)
   
4. Strong bearish Daily close yesterday with all the markets events we had.
   

I will enter short once I have the opportunity (setup) or confirmation to do so. This is short-mid term range. If not, then personally the market is still bullish since the August of 18. Trade with care, and good luck in the markets.