GOLD: First red day, breakout short traders in the market
Updated
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
- Monday DAY 1 Opening Range ✅ day 2 cycle
- Tuesday DAY 2 Initial Balance
- Wednesday DAY 3 (reset DAY 1) Mid Point Week
- Thursday DAY 2
- Friday DAY 3 Closing Range
2. SIGNAL DAY
- First Red Day ✅
- First Green Day
- 3 Days Long Breakout
- 3 Days Short Breakout
- Inside Day
3. WEEKLY TEMPLATE
- Pump&Dump ✅
- Dump&Pump
- Frontside
- Backside ✅
4. THESIS:
- Long: secondary, today is monday, no news on the calendar, a day where the market will start auctioning setting the high low of the week. Not really interested in the long scenario, eventually just a 3 sessions scalp dump and pump if presented.
- Short: primary, signal day, market potentially in break down, I'm looking for a pump and dump scenario, shorting back into the previous LOW, completing the big template of pump and dump.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
Note
In the daily overview gold placed a lower low on the inside, not really setting up perfectly, but it could be a pump and dump scenario
Note
market still above the ema 20, this is not a short setup, keep watching
Related publications
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.