Greetings Traders!
Today I am going to start posting some of my trades that I am currently doing.
Fig.1
In Fig.1, you will see the overview of the weekly chart for XAUUSD. This is what I'm looking at for this chart. I will go into more detail.
Fig.2
In Fig.2, what I focused on is the long-term downward trendline that has been formed. Personally, I still feel that Gold will continue to go down in price. Possibly even lower than 1000.
Fig.3
In Fig.3, I have identified a shoulder head shoulder pattern and decided to short gold.
To conclude, Gold is testing the trend-line again and has formed a bearish Shoulder-Head-Shoulder in the D1 chart.
My Stop is at $1,325.