GOLD 02/08/2020
GOLD has been flying non-stop since few weeks ago, but now, we can see that the momentum is started to be weaker in 4H time frame (as chart). However, in COT report, HF have started to close long position in bullish market, this can be interpreted that HF are starting to take profit in this bullish market and they have opened few short position.
What we are gong to do now is to wait for a clear confirmation (breakout on the trendline or the resistance), then we only apply our entry rule on this pair to gain profit.
What we are gong to do now is to wait for a clear confirmation (breakout on the trendline or the resistance), then we only apply our entry rule on this pair to gain profit.
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