Gold 1-2-3s Are The Best Trades So Far

Technical analysis of Forex market

The downside potential of Gold is big. Gold has been the best so far to trade as short traders enjoyed very good profits.

Gold is in a strong bearish zig zag downtrend. We should see a continuation down to the 1750 zone. Next short trades might happen in the POC zone 1780-90. However due to a strong downmove we could see a drop from 1777 directly to 1760 and then 1750. Shorting rallies is still the best option. The only way GOLD can turn bullish again is by taking out 1800 and that could just be a bigger retracement in downtrend not a reversal.