Gold has been rising on very low volume since Dec 14. When I shorted #1,467.80, I expected prices below #1,448.20 as a fair value of Gold, but what kept Gold and pushed it up is incoming capital of investors and strong DX. I miscalculated short term Gold trend but now we got DX working on our side, initiating the last chain fall to #1,450.80. I am waiting for this Weekly close to see if the pattern will repeat it self or the breakout to #1,510.20 will lead to a new top, which by my calculations will not happen. We will have more on next week's candle. Keep in mind that the medium term pattern on (D) is a Channel Down and we are on its Lower High zone with #1,448.20 or #1,450.20 being a potential Lower Low target. I don't expect today's ISM Non-Manufacturing PMI to have a big impact as like I've been highlighting all week, the market will wait for Friday's important macroeconomic events (Nonfarm Payrolls and Powell) before making a move.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
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.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
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.