Gold Down toward Big Correction
large drop in gold flowing to risky assets during Friday indicates downward pressure on gold
RSI(14) forms hidden bearish divergence where CCI reach lower than -200 level. Only "Sell" position would worth reward-risk ratio but WAIT! for the pullback. ADX is lower but still more than 20, implying downward pressure on gold does not violate long-term upward momentum on gold. Gold could pullback to 1250 before accumulating power to reacharound 1175-1180 at 61.8% Fibonacci level in long-term
XAUUSD
Possibility to Short/Sell at: 1248-1252
Stop Loss: 1262-1265
Take Profit: 1175-1180
RSI(14) forms hidden bearish divergence where CCI reach lower than -200 level. Only "Sell" position would worth reward-risk ratio but WAIT! for the pullback. ADX is lower but still more than 20, implying downward pressure on gold does not violate long-term upward momentum on gold. Gold could pullback to 1250 before accumulating power to reacharound 1175-1180 at 61.8% Fibonacci level in long-term
XAUUSDPossibility to Short/Sell at: 1248-1252
Stop Loss: 1262-1265
Take Profit: 1175-1180
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