Pretty Simple Analysis Here-
I'm bearish on gold from a weekly perspective, but we are still in what I'd call a Trap phase.
We have broken a daily trendline, but I think that there are a lot of early/eager bears thinking they caught a top (maybe they have)
But if I'm a banker or market maker I can see a ton of stop losses sitting above this triangle pattern.
I would want to trigger all of them, then sell gold off.
For that reason I will be buying into the stops, and selling once they clear.
My key level is 2027-2030. I've been waiting for them to mitigate at this price for almost two months now.
Check my prior posts,
I'm bearish on gold from a weekly perspective, but we are still in what I'd call a Trap phase.
We have broken a daily trendline, but I think that there are a lot of early/eager bears thinking they caught a top (maybe they have)
But if I'm a banker or market maker I can see a ton of stop losses sitting above this triangle pattern.
I would want to trigger all of them, then sell gold off.
For that reason I will be buying into the stops, and selling once they clear.
My key level is 2027-2030. I've been waiting for them to mitigate at this price for almost two months now.
Check my prior posts,
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
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.