Hello folks,
Based on my chart, I'm not sure why gold rallied instead of taking sell-side liquidity. I expected gold to drop at least to 2886.33, but instead, it went up for no apparent reason. Most regular traders would say it's because it hit a support line, but for me, that's not a valid enough reason—big traders know what they're doing. I assume the 2886 area could be where big traders enter ahead of upcoming news events like NFP, but who knows...
Alright, that's all, folks. Happy trading!
Based on my chart, I'm not sure why gold rallied instead of taking sell-side liquidity. I expected gold to drop at least to 2886.33, but instead, it went up for no apparent reason. Most regular traders would say it's because it hit a support line, but for me, that's not a valid enough reason—big traders know what they're doing. I assume the 2886 area could be where big traders enter ahead of upcoming news events like NFP, but who knows...
Alright, that's all, folks. Happy trading!
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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.