We got a very interesting situation with gold, the price made a new 7 years high, however, the volume did not follow, also the difference between future and gold spot is around $30. The gold may reach 1900 even higher, but before that, I think it needs to have a deep retracement, at least to reach 1500 first. I dont know if it will come to true, but I am waiting to short gold.
For the tech analysis, M chart reached the S/D points, and a top trendline gives the pressure to the price, before the short, we have to wait for more confirmation.
For the tech analysis, M chart reached the S/D points, and a top trendline gives the pressure to the price, before the short, we have to wait for more confirmation.
Note
Waiting for the third time test of the blue trendline, that will be the time to take short order, otherwise, no short trade.
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Time is coming! Wait for the hourly close
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Be patient for another 4-5 hours to jump into the tradeNote
Gold tried so many times to move down but all failed, be careful another rally may come. Short when price retests the blue trendline. Cause there is no S/D point, we have to wait for a clear point appearsOrder cancelled
The blue trendline expired, this post doesnt work anymore, so wait for the next chance.
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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.