gold market strategic outlook bears will target 1730 usd

🔸Hello guys, today let's review 2daily hour price chart for gold. Trading in well-defined range
since June 2020, we recently got rejected near 2 000 USD, triple top rejection and currently
dump / correction in progress, expecting more losses mid-term

🔸Range lows defined at 1715 usd, range highs set at 1980 usd, resistances overhead
at 2 000 / 2050 usd and key support below near 1650/1700 USD. Short-term /
mid-term outlook: bears maintain significant advantage ove4r bulls and therefore I
expect all rips/rallies to get sold. Position traders should focus on shorting rips targeting
1710/1730 usd. bulls should stay out, since we got strong correction in progress.

🔸We are trading in well-defined range since June 2020, position traders should
focus on buying low and selling high, trading mid-range is high risk / not worth it.

🔸Recommended strategy position traders: bears short sell rips/rallies.
TP1 bears is 1730 USD TP2 bears is 1700 usd. Bulls should wait for correction
to complete near 1710/1730 and seek to buy low with SL set at 1650 and targeting
1800/1850 USD. keep in mind this is a swing trade setup / patience required,
always do your own due dill, reduce leverage and use tight SL. good luck!

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