XAU/USD sell

13 oct 2019

I'm shorting gold this week when the market opens, Federal bank holiday on Monday so the market will be moving even slower than usual for a Monday but holding my bias to the downside. On Friday trade deals with China continued and Trump tweeted on Saturday that some trade deals have been made, still a long ways to go but I'm expecting the stock market and USD to continue rallying higher this week which will push gold down. Gold also broke support on the 1 hour chart Friday but never got a solid retest, 4 hour chart also broke major support and has been retested.. we also haven't seen a significant drop on gold since the 50MA crossed below the 200MA. I'm looking for gold to hit the $1440's sometime this week for profit taking, stop losses will be moved to break even soon as a significant push down is made.