The GOLD move today Summarized | Lost Trade
by the way I think sells have now become dangerous as that low has been both tapped and rejected - buys aren't ready just yet but sells have become a hazard
I will produce a more extensive analysis in a few hours
I still Wouldn't trust buys just yet as the bullish momentum isn't very clear as of yet - it could still drop at anytime - however as I would have mentioned earlier - sells in my opinion have become a hazard!
The dealer would have taken out traders stops at the previous low (blue circle) with this current spike low..which means that buyers would be taken out
Sellers also would have been induced below that level and are currently being dragged the wrong way - making sells dangerous at this time
Concerning the orange line - even more buyers are being induced and what I am asking here now is why would the dealer induce buyers if he wants to sell? He'd induce buyers if he wants to buy - stop out those same buyers by selling temporarily and then spiking the market higher up
Just my 2 cents - still can't make a move yet but let us watch and see what happens
https://s3.tradingview.com/snapshots/q/QOiaZ1zX.png
Update - the dealer is driving price lower - either possibly to resume sells (unlike in my opinion) but possible
OR
To stop out buyers on the previous bullish induction (orange line)
I ask again - why would the dealer induce buyers if he wanted to sell the market ?
Pink line possible???
https://s3.tradingview.com/snapshots/6/69gZ5fyX.png
To me sells would only become viable again if price can get back to the previous low (purple circle) and break that low
https://s3.tradingview.com/snapshots/t/T4bHoZjq.png
1 Minute time frame shows a break and retest (to sell) and seller induction - What could be the reason for trying to get traders to sell?
https://s3.tradingview.com/snapshots/w/wJKwa7nm.png
Why would the dealer give such a good opportunity to sell here?
Also pay close attention to how the spread is being manipulated - look at how much wider it is at this time
https://s3.tradingview.com/snapshots/p/PTPMv0hU.png
Yummmmm lol
https://s3.tradingview.com/snapshots/f/f2A1E1DU.png
One thing we have to take into consideration - what if this is a spike to take out sellers to then drop? - if it is, buys still aren't safe yet but sells are still off the table
https://s3.tradingview.com/snapshots/4/4oO7Qp5b.png
Watch for this level to be stop hunted before entering buys I think
s3.tradingview.com/snapshots/a/AEsbNcCK.png
If Price can push back bullish from here - I think you have a safe (ish) buy possible
We have the bullish momentum on our side now..
What do you think ?
s3.tradingview.com/snapshots/b/bFXLwHeS.png
Price hasn't confirmed the bull move has returned yet - wait
I'd prefer it to clear that high first
s3.tradingview.com/snapshots/h/hoCmpann.png
And this my friends is why we wait lol
s3.tradingview.com/snapshots/s/stPEz2ek.png
Giving it a try around this level - Godspeed to me LOL
s3.tradingview.com/snapshots/f/FcqVIxo9.png
Stopped out - On to the next
s3.tradingview.com/snapshots/a/ACx9ONew.png
Buys off the table for now as it seems gold is preparing to consolidate for a while...sitting on my hands for now
I will produce a more extensive analysis in a few hours
I still Wouldn't trust buys just yet as the bullish momentum isn't very clear as of yet - it could still drop at anytime - however as I would have mentioned earlier - sells in my opinion have become a hazard!
The dealer would have taken out traders stops at the previous low (blue circle) with this current spike low..which means that buyers would be taken out
Sellers also would have been induced below that level and are currently being dragged the wrong way - making sells dangerous at this time
Concerning the orange line - even more buyers are being induced and what I am asking here now is why would the dealer induce buyers if he wants to sell? He'd induce buyers if he wants to buy - stop out those same buyers by selling temporarily and then spiking the market higher up
Just my 2 cents - still can't make a move yet but let us watch and see what happens
https://s3.tradingview.com/snapshots/q/QOiaZ1zX.png
Update - the dealer is driving price lower - either possibly to resume sells (unlike in my opinion) but possible
OR
To stop out buyers on the previous bullish induction (orange line)
I ask again - why would the dealer induce buyers if he wanted to sell the market ?
Pink line possible???
https://s3.tradingview.com/snapshots/6/69gZ5fyX.png
To me sells would only become viable again if price can get back to the previous low (purple circle) and break that low
https://s3.tradingview.com/snapshots/t/T4bHoZjq.png
1 Minute time frame shows a break and retest (to sell) and seller induction - What could be the reason for trying to get traders to sell?
https://s3.tradingview.com/snapshots/w/wJKwa7nm.png
Why would the dealer give such a good opportunity to sell here?
Also pay close attention to how the spread is being manipulated - look at how much wider it is at this time
https://s3.tradingview.com/snapshots/p/PTPMv0hU.png
Yummmmm lol
https://s3.tradingview.com/snapshots/f/f2A1E1DU.png
One thing we have to take into consideration - what if this is a spike to take out sellers to then drop? - if it is, buys still aren't safe yet but sells are still off the table
https://s3.tradingview.com/snapshots/4/4oO7Qp5b.png
Watch for this level to be stop hunted before entering buys I think
s3.tradingview.com/snapshots/a/AEsbNcCK.png
If Price can push back bullish from here - I think you have a safe (ish) buy possible
We have the bullish momentum on our side now..
What do you think ?
s3.tradingview.com/snapshots/b/bFXLwHeS.png
Price hasn't confirmed the bull move has returned yet - wait
I'd prefer it to clear that high first
s3.tradingview.com/snapshots/h/hoCmpann.png
And this my friends is why we wait lol
s3.tradingview.com/snapshots/s/stPEz2ek.png
Giving it a try around this level - Godspeed to me LOL
s3.tradingview.com/snapshots/f/FcqVIxo9.png
Stopped out - On to the next
s3.tradingview.com/snapshots/a/ACx9ONew.png
Buys off the table for now as it seems gold is preparing to consolidate for a while...sitting on my hands for now
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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.
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.