Gold short position XAUUSD - Medium Term

14 giu 2022

XAUUSD

#Gold #XAUUSD has been declining since March, and has shown an accelerated move to the downside (mid april to mid may) signaling a short position. After almost a month of moving side ways and failing to reclaim above the broken trendline, a bearish continuation is now in play aiming at 1721 and 1687
The third continuation wave should bring the price lower to these levels.

Short position can be taken between 1829 - 1845 $

TP1 1721 $
TP2 1687 $
SL = 1D close above 1880 $
Risk/Reward = 2.9