We remain bearish on gold, as we called in the middle of last week. However, until we see a clear reaction that confirms a move lower, we believe price could still push higher.
Fundamentally, we are bullish on gold, but our current bias is bearish. Of course, our bias can be wrong. When price pulls back within our bias—essentially moving against what we expect—it doesn’t mean we blindly jump in just because we believe in a certain direction. Instead, we wait for a clear reaction in line with our bias before entering, so we can follow the trend with confirmation.
Remember the principles we always emphasize: our bias is the direction we believe price is heading. But if we’re welcomed into the market during a pullback—even if it’s against our bias—we will trade it accordingly. Right now, we are not being welcomed. Price is rallying against our bias, so we remain on the sidelines until a suitable entry is provided.
As mentioned before, Orion has indicated that price action could be bearish. However, gold is heavily driven by fundamentals, which means we may not get an entry here at all. If the market shifts and our bias needs to change, we’ll adapt as always. But we stick to our rules, manage our risk, and let price show us where it wants to go.
At the current point, if we don’t see a bearish move from here, we could be on track to see a new all-time high. For now, we’re not seeing an entry setup, which means our bias is not being fulfilled for a trade. As far as I'm concerned, this is the last potential reversal zone for gold.
Keep this in mind if price continues to push higher as today's session begins. Trade safe, stick to your plan, and let Orion lead the way.
Fundamentally, we are bullish on gold, but our current bias is bearish. Of course, our bias can be wrong. When price pulls back within our bias—essentially moving against what we expect—it doesn’t mean we blindly jump in just because we believe in a certain direction. Instead, we wait for a clear reaction in line with our bias before entering, so we can follow the trend with confirmation.
Remember the principles we always emphasize: our bias is the direction we believe price is heading. But if we’re welcomed into the market during a pullback—even if it’s against our bias—we will trade it accordingly. Right now, we are not being welcomed. Price is rallying against our bias, so we remain on the sidelines until a suitable entry is provided.
As mentioned before, Orion has indicated that price action could be bearish. However, gold is heavily driven by fundamentals, which means we may not get an entry here at all. If the market shifts and our bias needs to change, we’ll adapt as always. But we stick to our rules, manage our risk, and let price show us where it wants to go.
At the current point, if we don’t see a bearish move from here, we could be on track to see a new all-time high. For now, we’re not seeing an entry setup, which means our bias is not being fulfilled for a trade. As far as I'm concerned, this is the last potential reversal zone for gold.
Keep this in mind if price continues to push higher as today's session begins. Trade safe, stick to your plan, and let Orion lead the way.
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Learn the Orion Trading System with the link below.
🚀 Store: tinyurl.com/PSS-store
🤝 Discord: discord.gg/pip-surfing-society-809908301923745813
Related publications
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.
Our FREE trading community & FREE YouTube content!
Learn the Orion Trading System with the link below.
🚀 Store: tinyurl.com/PSS-store
🤝 Discord: discord.gg/pip-surfing-society-809908301923745813
Learn the Orion Trading System with the link below.
🚀 Store: tinyurl.com/PSS-store
🤝 Discord: discord.gg/pip-surfing-society-809908301923745813
Related publications
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.