GOLD - USD - Short in the Gold! - 07/05/2019 (GMT)
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- Timeframe : Daily
GOLD - USD Chart
Recently the gold is on levels where it looks like the short side is the one to play. Even though it is a long instrument based on historical data the buying pressure in the last several weeks was so strong that the correction is something that everyone was expecting.
In the current situations on the daily chart, we can observe the double top and increasing selling pressure. But all the data today like non-farm payrolls and unemployment rate are bringing a lot of tension on the markets which can interfere heavily with your short position.
So what is your opinion should you play safe haven instruments on short or is it better to avoid such a position because they are carrying way more risk.
In the current situations on the daily chart, we can observe the double top and increasing selling pressure. But all the data today like non-farm payrolls and unemployment rate are bringing a lot of tension on the markets which can interfere heavily with your short position.
So what is your opinion should you play safe haven instruments on short or is it better to avoid such a position because they are carrying way more risk.
This member declared having a selling position on this financial instrument or a related financial instrument.
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