Gold Setup Idea: Pre New York (Sept 27, 2022)
Updated
Here is my analysis based on price action during the Asia session and London session, it appears we are retracing after making new lows. This means we have a temporary relief of HTF bearish influence and can possibly expect to see some bullish price action today; but it is certainly more risky to buy than to sell gold right now given the current macro economic conditions. I am ultimately looking to sell since I believe there is a higher probability of it succeeding, but if price break london high and shows bullish strength in NY open, forming LTF support above $1640, then buys are certainly possible.
What do you anticipate price to do in NY open/today?
What do you anticipate price to do in NY open/today?
Note
I 100% FORGOT TO MENTION NEWS:Powell is speaking right now at an international conference discussing crypto and the financial sector. While he isnt speaking so much about the current economy and inflation, he is speaking about the central banks role in crypto, and his statements can have an impact on USD which will influence gold. metalsmine.com/news/1181120-powell-opportunities-and-challenges-of-the-tokenisation-of
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