GOLD: BRUTAL Market Manipulation And FAKEOUT!
Hello,Traders!
A LOT of people were
Shorting GOLD from the ATH
Especially given how strong
The resistance level was.
And they were quite right in doing so.
What we are seeing on the chart right now
Is a clear sign of a massive market manupution
Because the ATH has been move up by
Almost 5% and such moves on GOLD
Are impossible unless the key market
Makers make a deal. This is a typical mammoth hunt
Strategy with the domino effect kicking in
When people's SLs started getting hit
The margin calls added fuel to the fire.
But whatever the reasons for such a move, it
Proved TWO trading axioms:
1) We ALWAYS use Stop Loss
2) We do not trust the market
Those who shorted without SL
Have lost their accounts for sure.
And after the fakeout did it's job the
Price went down from the horizontal
Level just as I predicted.
A very interesting market we are seeing
Now but a dangerous one as well
So be careful and use small lot size and SL
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