Hello traders. I wanted to post to show where I am looking for possible short positions. Gold could easily, over the next few days / weeks, ride up to the low to mid 1700's. Saying that, we opened this month / week with no downward movement. So in my opinion this is a liquidity grab as well as power gaining move for gold to keep dropping at some point. Saying that on the weekly I can see 1717.10 as a possible stopping point as well the current little 4 hour hesitation at 1707 / 1710. I can see both scalp sells and buys. I am just waiting patiently to get in on a good trade. On a bigger time frame it will be amazing to fill the wick for sells when the monthly flips bearish. 1660.57 is the flipping spot for the monthly. All thanks to Big G, my mentor. Trade the trend and be well. let's see what happens around 1710 and then again around 1717 area.
Pip Whisperer
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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.