XAUUSD D2: 15% correction PT BEARS is 1550 USD(SL/TP)(SWING)

20 Sep 2022

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XAUUSD D2: 15% correction PT BEARS is 1550 USD(SL/TP)(SWING)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT as I expect more losses.
HOWEVER. Entry from overhead. read entire
idea before executing this trade.

🔸 Summary and potential trade setup
::: XAUUSD 2days/candle chart review/outlook
::: AB swing projected point C
::: is near 1500/1550 USD
::: which is final TP BEARS
::: mid-term outlook for the market
::: updated/revised outlook
::: mid-term PT still valid: 1550 USD
::: distribution pattern in progress
::: we are already topped out
::: BEARS taking over from here and
::: FED going to trigger more selling this week
::: expecting 100 bps rate hike
::: extremely BEARISH for GOLD
::: similar pattern may be observed in 2011/2012
::: distribution before HEAVY DUMP
::: recommend to focus on SHORTING rips/rallies
::: there is no valid setup for the BULLS in this market
::: if there are bounces/rips/rallies just SHORT IT.
::: a lot of calls for 2500/3500 USD in gold
::: not possible before we hit 1550 USD
::: my final PT for BEARS is 1550 USD
:::15% correction from here
::: recommended strategy: SHORT/HOLD
::: 1550 USD final TP
::: TP BEARS is 1550 USD
::: SWING trade setup do not expect
::: fast/miracle overnights gains here
::: good luck traders
🔸 Supply/Demand Zones
::: 1550 USD fresh demand zone
::: 1950 USD fresh supply zone
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment short-term: BEARS
::: Sentiment outlook mid-term: BEARS

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