Short gold | Trade of the week

This week, we're going short gold, as the price stalls near $4,200 resistance within a medium-term downtrend. Every bounce over recent months has been followed by further selling, and the downtrend line from the March high continues to cap upside. We're shorting at $4,164 with a stop above the mid-June high at $4,383 and a downside target at $3,800. Previous trades continue to develop. USD/JPY moved sharply in our favour following likely BoJ intervention, with the take profit now raised to ¥160 and the stop remaining at ¥164.15. Soybeans are heading towards the 1199 target, with the stop now raised to entry at 1146, making it a free trade. 👉 In this video: ✅ Why we're shorting gold ✅ Key entry, stop and target levels ✅ Updates on USD/JPY and soybeans #Trading #Gold #GoldTrading #TechnicalAnalysis #Markets #TradeOfTheWeek Trade of the Week Playlist: ►https://www.youtube.com/playlist?list=PLiuPElZAFyTJFfLuMPPt1SvCt8gJEpNs7 📈 Catch more market commentary and insights on our channel. 🔔 Subscribe ► https://www.youtube.com/@iguk_official?sub_confirmation=1 Find out more: https://upl.inc/k4gg8x Your capital is at risk. 69% of retail investors lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.