GOLD could drop a bit MORE!
Updated
Hey tradomaniacs,
currently we see more risk-off in the stock-market shown by a strong orderflow in the SPX500.
More risk-off would mean more demand in US-DOLLAR and so pressure for GOLD (XAU/USD).
Additionally Gold struggles to breka through the resistance-zone and shows more and more supply at that point.
A 5th-Wave would complete the entire wave-pattern to the downside and could so give us a great opportunity to go short.
As always we need to be very carefully as this news-driven-market can head into every direction.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
currently we see more risk-off in the stock-market shown by a strong orderflow in the SPX500.
More risk-off would mean more demand in US-DOLLAR and so pressure for GOLD (XAU/USD).
Additionally Gold struggles to breka through the resistance-zone and shows more and more supply at that point.
A 5th-Wave would complete the entire wave-pattern to the downside and could so give us a great opportunity to go short.
As always we need to be very carefully as this news-driven-market can head into every direction.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
Note
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