At the value low, found the tail where price moving toward the control price.
Trader always tries to short at control price but not aggressive.
Short selling aggressively good at the excess, therefore at value high I have mentioned the short point.
Short Sellers have two points to short, control price at 1293.5 and 1297 nearby.
Exit at comfortable...!
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1292.95). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support. ...
1. we are only entering a correction phase when equity price / vaue of an asset depreciates and classic economic theory suggests that Gold is appreciated when asset prices starts to weaken.
But the performance of metals (especially, Gold ) was not at par with the rate of Asset depreciation.
Plus, in my view, we may see crypto assets which may take a charge in...
Gold is still trading in the $1265-1300 range. It has taken support of trend line after the emergence of positive divergence on RSI . 10 EMA is still trading below 20 EMA which shows the negative trend is not over. We'll wait for breakout from the range to decide future course of action. Till the time, we'll remain on side line.
Gold is in big bear market and i am giving you an idea and a prediction of what could happen next.
exit condition = breaking ema 21 or 1330+ area and just wait for an update. Big bear has not been played out yet
Gold prices kept falling in the channel,
Today focus on the NFP deta,
Suggest that investors remain short in high,
Or Sell Limit at 1276-1278,
TP 1260
SL 1290
Follow Me!
Show U The Money!
--------------------------------Ronnie 2019.05.03 in
Its highly expected Spot Gold (OANDA:XAUUSD) to go further down. We can trade this as normal with 1:3. GOOD LUCK. Always maintain your risk as Shorting Gold is always kinda a risk.
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a flat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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