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This is an Unhealty Uptrend

업데이트됨

Last Friday Gold has broke down uptrend and dropped to 1707$. After touching to 233 Ema in 4H chart it bounced back to the 1730$ bc of strong buyying pressure and with reduce in VIX. But despite all the indicators' buy signal, that new uptrend is showing reversal signs. So after today's retail sales data of May, i think gold will go down.

Disclaimer: I am just expressing my opinion, i don't accept any responsibility about the trade u will do using this idea. Use your ideas and analysis allways while you trade.

액티브 트레이드

- S/L Extended to 1745$ for any case.

액티브 트레이드

Retail Sales Datas are better than expected. It has bearish impact on xau/usd prices now.

액티브 트레이드

Xau/usd didn't impacted much from the retail sales datas. That means market is still waiting for the industry datas and powell' speech to move.

액티브 트레이드

Industry datas were terrible, So i am expecting 1725-1735 levels back again.

액티브 트레이드

There is a strong resistance between 1729-1731$ and gold is struggling to pass it through. Now i am expecting price go down to 1711$ level as beginning. Levels are 1722-1717-1711-1707-1700-1695-1682-1660-1657-1645. I don't think price go lower than 1695$ in my opinion. Lets see.

액티브 트레이드

Price faced with a support at 1717$. I have closed my a few shorts. Lets see will it turn back to resistance from that level.

매매 수동청산

Looks like price won't go down more than 1717$ and looking like it is heading above 1745$ so we are closing our trade. Maybe next time :)