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Gold Bearish scenario

519
Gold had an impressive rally since the March crash. Broke ATH , then regressed back into the range and below 2011 high.

My take is the following:

- until we reclaim 2011 high on the monthly, then the short idea is valid.
- confirmation upon a monthly close (December) below 1825.

Expecting us to revisit the breakpoint area (origin of the pump) around the 1580$ zone where I believe it'll find support while keeping the trend intact (Higher Low)
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This is going perfectly. Almost at target!
Not
LTF aside, and due to time constraints, I enjoy playing commodoties from a HTF perspective.

Scalps is one thing, a big swing position is another. Always keep the HTF in mind especially with "heavy" markets

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.