Direct from the desk of Dane Williams,
This is not your average forex broker email.
If you’ve been reading my analysis, then your chart will have gold pushing up into a massive weekly resistance zone.
Yes we’ve tried to short gold here on the email recently, but the price action was choppy and it would have been touch and go whether your stops survived.
But as the markets almost always do, Gold is giving us another chance to get short.
I went over the higher time frame charts on the blog in today’s market preview, so now zoom in and take a look at the intraday chart.
The setups I trade are always the same and this potential gold short is no different.
Here we have Gold higher time frame resistance holding.
Price then broke out of trend line support, confirming at least a short term trend change and giving us another reason to short.
We then look for a retest of short term support (the grey box) as resistance for a short entry with higher risk:reward.
We’ve started the week bearish during Monday’s Asian session, but now we wait for some follow through.
Am I keeping my analysis clear and simple for you to trade the setups? Please hit reply to this email and let me know your thoughts.
I read and reply to everyone inside my Inner Circle who takes the time to chat.
Best of probabilities to you,