\In my earlier analysis, I mentioned I had a very strong bearish bias for gold but did mention I wasn't going to sell so easily until i get confirmation. What happened post NFP on Friday 5th of November post NFP changed the story for me and then has to increase my patience level. The I saw gold broke many resistance and found price closing above 1817 which actually invalidated my bias.
Today after seeing price action and became obvious that gold was heading towards the next strongest resistance, the I bought at the retest of 1812 area and now in significant profit with SL in profit.
This the power of patience and price action. There is no award for entering but entering right.
Today after seeing price action and became obvious that gold was heading towards the next strongest resistance, the I bought at the retest of 1812 area and now in significant profit with SL in profit.
This the power of patience and price action. There is no award for entering but entering right.
Note
We are still on course. if we see a 4HR above 1834, then it is dangerous to sell. Gold is beginning to look generally bullish and the break or make point is 1834. If gold achieve a clear break above 1845, the bears should be careful.\I| am not a bear neither am I a bull, I just follow market structure and price action. It's my strategy and it work.
Trade what the market offers.
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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.