This is the view we have on GOLD (XAUUSD) at the moment. Bearish bias is confirmed by break of LONG TERM ascending Trendline and push from the supply zone. On Weekly TF 3 weeks ago we had a strong Bearish engulfing candle that is suggesting that institutions are pushing the price down.
However it is likely that we will see one more retest of the zone so all the orders get filled.
We see 2 possible scenarios for the price of gold :
1. Price will pullback all the way up to 1345 supply zone and make double top formation before going down to 1280 or even lower to 1200.
2. Price will break current support Trendline and pullback to 1330ish zone and then drop to 1280 or even lower to 1200.
In any case we have a clear strategy and setup to take this pair short. Just be patient and wait for Break & Retest :)
We wish you great week ahead!
However it is likely that we will see one more retest of the zone so all the orders get filled.
We see 2 possible scenarios for the price of gold :
1. Price will pullback all the way up to 1345 supply zone and make double top formation before going down to 1280 or even lower to 1200.
2. Price will break current support Trendline and pullback to 1330ish zone and then drop to 1280 or even lower to 1200.
In any case we have a clear strategy and setup to take this pair short. Just be patient and wait for Break & Retest :)
We wish you great week ahead!
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。