[RG] XAUUSD: Short, SL 1489, Confirm 1466, TP 1400 by Tks Giving
I thought Gold has been trading within this 1481-1519 band since October. But now I tend to believe it has been trading in this downward channel in my chart since early Sept high.
Idea is to enter Short in a mild rebounce, at say 1472-1475 level, in the next 12 hours. If Gold goes below 1466 level in the next 24 hours, I would see confirmation of my downward channel, so then the target level would be 1400 by end of November, or even sooner.
Stop loss at 1489 which means Gold fully recover back to the 1481-1519 band, in which case, we will wait for it reaching again the resistance level near 1519 for a new short position.
Let’s see.
Idea is to enter Short in a mild rebounce, at say 1472-1475 level, in the next 12 hours. If Gold goes below 1466 level in the next 24 hours, I would see confirmation of my downward channel, so then the target level would be 1400 by end of November, or even sooner.
Stop loss at 1489 which means Gold fully recover back to the 1481-1519 band, in which case, we will wait for it reaching again the resistance level near 1519 for a new short position.
Let’s see.