Gold is looking really good for a short opportunity. we can see on daily the head and shoulder pattern also a channel from where gold can continue to the downside. Possibly to the 0.382 or 0.5 retracements in the monthly chart.
I sold gold last week in 1910 but closed the position because not enough short was added on cotdata. Gold is a highly volatile market so don't wanna lose on gold. But I kept the pair on watchlist.
If anyone wants to sell gold don't sell from here the market can easily continue to the upside and ignore the head and shoulder pattern. After gold breaks the channel to the downside and go for a retracement then support will also turn into resistance and from there will be the best opportunity to short.
I sold gold last week in 1910 but closed the position because not enough short was added on cotdata. Gold is a highly volatile market so don't wanna lose on gold. But I kept the pair on watchlist.
If anyone wants to sell gold don't sell from here the market can easily continue to the upside and ignore the head and shoulder pattern. After gold breaks the channel to the downside and go for a retracement then support will also turn into resistance and from there will be the best opportunity to short.
