XAUUSD (SHORT IDEA)
Just want to share an idea of my analysis in gold, surely you will have a more in-depth analysis, but according to my technical analysis, this will happen and I am positioned short, first of all I see a double top (H4), with the neck break, right now it is retesting the neck, so it gives us a possibility of a fall of 3167.2 points, to reach 1765.98, there is also another confirmation that the break of the bullish structure, which is confirmed by the The fibonacci retracement of 38% to reach a minimum of -27%, so the risk is 112 pips, and a profit of 472.2 points, so the risk benefit is 4/18.
In the long term, I think that gold may fall to 1586.93, since since July 2020, we have a bearish structure, so the moment gold breaks the dynamic support of 1750 I think the price will collapse, the risk is 326.5 pips and with a possible profit of 2099.4 pips, making the risk / profit 6/43.
In the long term, I think that gold may fall to 1586.93, since since July 2020, we have a bearish structure, so the moment gold breaks the dynamic support of 1750 I think the price will collapse, the risk is 326.5 pips and with a possible profit of 2099.4 pips, making the risk / profit 6/43.
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