[GOLD W3 Sept 2021]
GOLD
Short Setup
Continuation trade:
👉🏻 Mentioned last week that 1795 can be an area to enter long, but Friday's break below 1791 could mean otherwise. With the possible gains mentioned in DXY, we could see a selloff to at least 1760 area which is also the 50% retracement level.
1690 area marks is the yearly lows, doubt it will reach close to that, yet breaking it.
Short Setup
Continuation trade:
👉🏻 Mentioned last week that 1795 can be an area to enter long, but Friday's break below 1791 could mean otherwise. With the possible gains mentioned in DXY, we could see a selloff to at least 1760 area which is also the 50% retracement level.
1690 area marks is the yearly lows, doubt it will reach close to that, yet breaking it.
👉🏻 Broke below and is sitting at the 61.8% as marked. I am still bullish on gold as I doubt it will test those yearly lows of $1690 again.