GOLD: be careful to buy now
Good morning to all trader and investor friends, after the last post I wrote about 2 weeks ago, for those who missed it this is the link: https://etoro.tw/3ZoE6LO , where I reported that I expected a correction in prices, which could have go down to the 2480 area, not even doing it on purpose, from that moment the price started to fall until reaching 2530 confirming my idea of a correction.
Now I bring this update to show you what I see on the graph from the image attached below. I'll start by saying that I don't want to cause alarmism and I don't want to assume that everything is about to collapse, as the market still has a strongly bullish trend, but in the short term, negative configurations are forming that could lead the price to continue its trend. for a few more days.
Starting from the weekly, a first negative swing has formed which has not occurred since February, this leads the short-term structure to be considered negative. On the daily chart (the one in the attachment) we can see based on my LuBot indicator which shows light green candles, this means that the structure is still positive, but in the short term it is losing strength and this leads the structure to find itself in this moment at the second bearish leg. In addition we have the supertrend which becomes negative and the momentum which is negative already from November 4th, therefore from the beginning of this tracking.
Finally we see yesterday's candle which had a strong explosion of volatility closing below a key level.
Summing up all these dynamics, I don't feel like joining Long at the moment. I could expect a continuation of the correction that brings the price to the 2480/2400 area as indicated in the previous post. In any case, I would wait to see the price show bullish confirmations before making further bullish entries.
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🔑 If you want to get access to my LuBot indicator you find the link below, you can also get access for free without paying anything
⚠️ Disclaimer: This post is for informational purposes only and does not constitute financial advice. Always do your research before making investment decisions.
TAGS:
GOLD XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD 
GLD
Now I bring this update to show you what I see on the graph from the image attached below. I'll start by saying that I don't want to cause alarmism and I don't want to assume that everything is about to collapse, as the market still has a strongly bullish trend, but in the short term, negative configurations are forming that could lead the price to continue its trend. for a few more days.
Starting from the weekly, a first negative swing has formed which has not occurred since February, this leads the short-term structure to be considered negative. On the daily chart (the one in the attachment) we can see based on my LuBot indicator which shows light green candles, this means that the structure is still positive, but in the short term it is losing strength and this leads the structure to find itself in this moment at the second bearish leg. In addition we have the supertrend which becomes negative and the momentum which is negative already from November 4th, therefore from the beginning of this tracking.
Finally we see yesterday's candle which had a strong explosion of volatility closing below a key level.
Summing up all these dynamics, I don't feel like joining Long at the moment. I could expect a continuation of the correction that brings the price to the 2480/2400 area as indicated in the previous post. In any case, I would wait to see the price show bullish confirmations before making further bullish entries.
👍 Leave a like if you want to see other similar posts
🙋♂️ Follow me so you don't miss my future analyzes
🔑 If you want to get access to my LuBot indicator you find the link below, you can also get access for free without paying anything
⚠️ Disclaimer: This post is for informational purposes only and does not constitute financial advice. Always do your research before making investment decisions.
TAGS:
GOLD XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD GLD 
LuTrader Garage : linktr.ee/LuTraderGarage
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.
LuTrader Garage : linktr.ee/LuTraderGarage
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.