Gold FuturesShort
Gold more Likely to be Short
Market Makers
as we see gold has risen since a bounce off support in Aug. We see peak A sell off
a bit to make peak B which was followed by two bear candles that seemed to hit our
support from peak A making a large green candle closing above peak A. Therefore
a natural reaction to Buy thinking its a strong side to the upside.
Bullish upside was rejected and fell past the previous low.
Seeing candle D with a long top wick going above the previous low
tells us the move downward was unexpected and price was forced
upwards on Candle D to cover loses. thus bears can continue down
in a fashion that can be projected by support and resistance.
Now to determine the length and actual confirmation of
our short position we will use the 100 Range chart. To
determine which way our position will go we will use the
predetermined length of the Range Bar. seeing as how our
bar doesn't have much left to move before a new one forms
and is red. we will draw a red perpendicular bar from the
high to the predetermined length. This will give us a confident
look at what price may fall too. Now before we enter our
short forsure we must check all options including the possibility
of an upside move. Draw a perpendicular line from the bars low
to the predetermined high giving us another good price range if
our short was wrong.
-LNP Investmemts
as we see gold has risen since a bounce off support in Aug. We see peak A sell off
a bit to make peak B which was followed by two bear candles that seemed to hit our
support from peak A making a large green candle closing above peak A. Therefore
a natural reaction to Buy thinking its a strong side to the upside.
Bullish upside was rejected and fell past the previous low.
Seeing candle D with a long top wick going above the previous low
tells us the move downward was unexpected and price was forced
upwards on Candle D to cover loses. thus bears can continue down
in a fashion that can be projected by support and resistance.
Now to determine the length and actual confirmation of
our short position we will use the 100 Range chart. To
determine which way our position will go we will use the
predetermined length of the Range Bar. seeing as how our
bar doesn't have much left to move before a new one forms
and is red. we will draw a red perpendicular bar from the
high to the predetermined length. This will give us a confident
look at what price may fall too. Now before we enter our
short forsure we must check all options including the possibility
of an upside move. Draw a perpendicular line from the bars low
to the predetermined high giving us another good price range if
our short was wrong.
-LNP Investmemts
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.