Gold Gold Daily Video, February 04, 2021

[Sive Morten]

Good morning,

As US interest rates jumped recently, gold has dropped out of 4H consolidation. Now, theoretically it could be some chances for short entry, if price returns back to broken border:

 

[Brett Reynolds]

I added a 2nd short position yesterday @ $1835. Stop @ $1850. My 1st position held from last week was $1850 with stop at $1880. That 1st position stop is now @ Breakeven. I really like Gold to 'Fade' that BIG Move in 2020. I feel that Gold would need a weekly close above $1860 now to have any further Rally! I like the $1760 area to Target..and maybe after NFP tomorrow this could be Hit.! BIG Volatility tomorrow so maybe i will close both positions before NFP and look to Re-enter on any Rally.!?
Yesterday when i said 'It could be Long trade' i meant the time it would take for my short positions to play out! I Did not mean that i was 'thinking of going 'Long' on Gold.! lol. Sorry for any confusion!

 

[ForexWarrior2020]

I think it has a good bit to go down before showing its next direction