Gold silver Bitcoina oil
Th.is is December 16th Monday. I know some Traders were frustrated with the drawdown in gold and silver and oil. I thought that the dxy had a chance of going lower even though I pointed out that there were no buyers based on 2 bar reversals and the price action of the dxy.I should have listened to the dxy but at least I understood That the dxy was trading for the buyers not the sellers. and the gold and silver were trading for the sellers.... and all you have to do is know where support and resistance are and where the buyers and the sellers are don't fight the 2 bar reversals even if you don't believe them as they will keep you out of trouble. this is especially true if you are in a trade... let's say that you are long on that trade...Favoring the sellers and there's a two-bar reversal suggesting that the market is going to go lower... take the profit. if you tend not to short the market meaning that you're opening a short position and then watch how the market moves and then appreciate that you spared yourself a drawdown when you got out of your long trade before you gave money back by holding your long position when the market was telling you otherwise. the charts show that there may be buyers and sellers for gold and silver and that you might want to look for trades in those two markets.
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