Hello Traders. I am posting to say that for me, I have to wait. I am in no hurry as I want to catch the best possible trade with gold. I feel right now, with the war, lockdowns in China again, raging inflation and total uncertainty with the current powers in office and the over inflated dollar, this could be a perfect storm situation. Once gold goes up for good, I mean like over 3 k or 4k an ounce, the days of 1750 /1810 / 1820 an ounce will be long behind us. l would love to have the chance to buy as low as gold may go this year before the eventual big move up. Saying that, I also feel like gold may drop more to the marked zones on the chart or lower. Plenty of scalp trades both up and down during volume this week. I am long on gold, but in no hurry until I see the market start to build support and change direction. Although I am posting a daily chart, gold is now on it's 4th week going down so a pullback / retracement should come at some point. Until then I will wait. And even after a pullback gold could drop some more All my thanks goes to Big G, my mentor. Trade the trend. Getting paid to wait is a Raja Banks adage. Raja and Ted (Wicksdontlie) may have been the best live stream when I started out for how to trade gold using price action. Be well, trade the trend and I will update as I go. Thanks for reading my idea / analysis / post :)
Pip Whisperer
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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.
Pip Whisperer
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.