Our past forecast came true.
Gold is in the falling channel and now the price is at the resistance level of 1488, from where I forecast a fall to the level of 1474 and after a small pullback the price will continue to fall to the level of 1460
Trade with criteria , I already mark on chart.
Now Long is R/R better than Short.
But everthing can happen with Gold.
Only have plan A,B,.... to fight back.
as I told some follower in chat.
sorry if i answer late in chat but I will try my best .
*** Risk management is important than signal or entry/exit point.
At the time of publishing this research report, Gold is trading at $1488 and silver is at $17.50.Gold dropped more than 1% on Friday which make the prices plunged from $1510 to $1480($30 move). The Donald J.trump tweet on Friday had a significant impact on the market in which he showed optimism ahead of his meeting with Chinese Vice Premier Liu He at the White...
Gold ultimately slipped into bear territory as it breached the long standing support of the diagonal black trendline on closing basis ending well below the $1500. The downturn was further triggered by a host of positive news coming from different parts of the globe toning down the tensions with the pick of the lot being “an agreement for further agreements”...
-Gold is hovering around key level
-US China trade talks are progressing
-Global growth factor easing
Gold is at Resistance level which seems hard to break, Look further downside to 1460 and 1440 respectively.
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We are looking at some major DOWNTREND. US has made a deal with China making USD strong. Also as we can see that pattern has reversed and is going low. LL, and LH has been spotted. Lets see how it plays out. This is not a signal or a call for trade.
There are many ways to trade risk sentiment these days. One of the most attractive bets on the positive outcome of the negotiation is selling XAU/USD.
Gold has made two unsuccessful attempts to get above 1,515 in October after forming a lower high in September that still looks quite disturbing for buyers. The decline below 1,490 will open the way down to 1,480...
We play with Smartmoney concepts, that means that we focus mostly on price action to determine what will happen in future.
As we all know, price is moved by BIG players: Banks, Institutional traders, HFT bots (we call them all of them SmartMoney).
They can't play as we do, cause of a HUGE lot sizes, so cause of that they need to SELL to BUY and BUY...