Gold Next Possible Move (Bearish Trend)

* Gold is in its Selling zone now as per the analysis done in one day time frame,

Reasons for Selling...
*Gold is now ready to touch its Resistance trend line, which indicates selling in Gold. Gold is  moving in  parallel channel and after touching of upper resistance of parallel channel, now moving towards down in parallel channel.
*Gold hit 61.8% % level of Fibonacci retrenchment level of previous down trend and rejected, according which retrenchment may over in this zone and Selling on the cards.
*Gold Completed 5th eave of Eliot wave theory and completed first wave of Correction (A), now Gold will supposed to form second wave of correction B (after 5th wave, 1st correction wave A, then impulse B, then Correction C). Hence Selling in Gold May occur.
* Gold has been rejected by the Resistance Zone ( a cluster of resistances), Which stop the Bulls to move further. 
* Stochastic Indicator is in neutral level but suggesting downward movement, Hence Selling on the cards in Gold.
*MACD also in neutral condition, Hence, Selling may occur in Gold.

Trading tips (for long term):
TP1: 1730
TP2: 1700
TP3: 1678
TP4: 1600

SL: 1818-1824
Best of luck Never risk 2% of principal to follow any position.

Commentaire:

XAUUSD/GOLD SELL IS RUNNING WITH +400 PIPS... 🔥🔥🔥🔥🔥🔥🔥✅✅

Transaction en cours:

Book first target @ 1732 with 400 PIPS... 🔥🔥🔥🔥🔥🔥🔥✅✅

Transaction en cours:

XAUUSD/GOLD SELL TP1 WITH +400 PIPS... 🔥🔥🔥🔥🔥🔥🔥✅✅ DONE

Transaction en cours:

XAUUSD/GOLD SELL TP2 WITH +670 PIPS... 🔥🔥🔥🔥🔥🔥🔥✅✅ DONE

Transaction en cours:

XAUUSD/GOLD SELL TP3 WITH +900 PIPS... 🔥🔥🔥🔥🔥🔥🔥✅✅ DONE

Commentaire:

XAUUSD/GOLD SELL Running with +1150 PIPS... 🔥🔥🔥🔥🔥🔥

Transaction en cours:

XAUUSD/GOLD SELL Running with +1400 PIPS... 🔥🔥🔥🔥🔥🔥