XAUUSD Short för OANDA:XAUUSD av aiza_belle

trendanalysis chartpattern beyondta xauusd xau usd gold stocks bearish sell short

If the stock market slump continues, this pair will more likely go down further especially it has started to form a head and shoulders pattern in the daily chart. Setting up sell stop order @1316 with TP @1300 and SL near latest daily high @1325. Must be careful though because this pair is sensitive to US Fed news, and looking at the weekly chart, there's still a possibility that it will breakout on the upside instead.

Daily

Weekly

Confidence: B (a bit risky, monitor closely; depends on any news about market tightening esp US Fed Rate Hike, which affects both stocks and gold)

Trade stängt manuellt:

Manually closed to lock in some gains for the week. Will most likely resume bearish position next week.

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