Short Position opened Gold ignoring DXY & creating H&S

١٢ ديسمبر ٢٠٢٢

A very unusual start to the new week for gold, if we compare it to DXY, Gold fully ignored Dollars price action, whether tomorrow's news will calibrate it remains open. I am very optimistic that tomorrow's data will be as forecasted. After spotting this tilted H&S pattern on my PP Resistance levels, I finally decided to open a selling position after the price broke through my MA Daily 50 and Daily Pivot Point. This morning the price came back above my MA Daily 50, and came back to the same again and is currently at 1787 - 1788.1. My current goal is 1779.4.

Trade responsibly, this week is very unpredictable and anything can happen, keep your risk management strict.

Good luck everyone

My last golds idea this past Weekend: