Gold has broken main structure on Monthly Sell the Rallies.
Updated
As a commodities trader I watch all markets and understand the correlations.This year's main theme is USD strength and US Index strength, oil will go up as the US economy is booming; Subsequently gold is the inverse of a booming economy (gold will go down).
COT reports (committment of traders from CFTC) are showing many investment banks are short on gold and long on USD.
Ignore the trade war news. Its all fear mongering.
Buy Fear Sell Greed.
There Is a nice upside down bearish cup and handle structure forming on the 4H.
Pending sell targets are on the chart.
Set a pending limit order and not a market order.
Good luck.
COT reports (committment of traders from CFTC) are showing many investment banks are short on gold and long on USD.
Ignore the trade war news. Its all fear mongering.
Buy Fear Sell Greed.
There Is a nice upside down bearish cup and handle structure forming on the 4H.
Pending sell targets are on the chart.
Set a pending limit order and not a market order.
Good luck.
Note
Pending order Executed: Ride the wave and pyramid downGood luck!
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.