XAU/USD sell

13 thg 10, 2019

I'm shorting gold this week when the market opens, Federal bank holiday on Monday so the market will be moving even slower than usual for a Monday but holding my bias to the downside. On Friday trade deals with China continued and Trump tweeted on Saturday that some trade deals have been made, still a long ways to go but I'm expecting the stock market and USD to continue rallying higher this week which will push gold down. Gold also broke support on the 1 hour chart Friday but never got a solid retest, 4 hour chart also broke major support and has been retested.. we also haven't seen a significant drop on gold since the 50MA crossed below the 200MA. I'm looking for gold to hit the $1440's sometime this week for profit taking, stop losses will be moved to break even soon as a significant push down is made.