XAUUSD WK: PT BEARS is 1200 USD 30% correction (SL/TP)(SWING)

29 Eyl 2022

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XAUUSD WK: PT BEARS is 1200 USD 30% correction (SL/TP)(SWING)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT as I expect more losses.
HOWEVER. Entry from overhead. read entire
idea before executing this trade.

🔸 Summary and potential trade setup
::: XAUUSD weekly chart review/outlook
::: mid-term outlook for position traders
::: updated/revised outlook
::: we just broke down on weekly chart
::: similar pattern in 2011-2012
::: we are already topped out
::: also heavy DOUBLE TOP rejection
::: expecting more losses / fresh dumps
::: BULLS should stay out / ugly outlook
::: distribution before HEAVY DUMP
::: recommend to focus on SHORTING rips/rallies
::: there is no valid setup for the BULLS in this market
::: if there are bounces/rips/rallies SHORT IT.
::: this market is TOPPED OUT
::: valid target BEARS is 1200/1250 USD
::: my final PT for BEARS is 120 USD
::: 30% correction in progress HEAVY
::: recommended strategy: SHORT/HOLD
::: 1200 USD final TP for position traders
::: SWING trade setup do not expect
::: fast/miracle overnights gains here
::: good luck traders
🔸 Supply/Demand Zones
::: 1200 USD fresh demand zone
::: 1750 USD fresh supply zone
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment short-term: BEARS/DUMP
::: Sentiment outlook mid-term: BEARS/DUMP

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