GOLD SELLERS May be getting Over-Confident
UPDATE - in this current area (purple circle) it appears that price is sticking around for some time
My question to you is - who do you think will increasingly become interested at this area (purple circle)
In my opinion it is buyers
Meaning their stop losses might be below the zone (purple line)
BUT
That is not all - Who would be interested in price breaking below that zone because the market has been bearish for the past few days?
I think sellers because remember I told you in my analysis a few days ago - the dealer has to give sellers a win because he doesn't want them to become smart and stop going against the direction (counter trend)
Who do you think is all riled up right now? SELLERS
Don't believe me? go in the Gold live trading chat on tradingview and read what everyone is saying
Sellers are interested in the break out
if the dealer creates that breakout sellers will sell
The question is - will he continue to sell?
My advice is to continue to wait for CPI to occur and let's see what is what from thereUPDATE - in this current area (purple circle) it appears that price is sticking around for some time
My question to you is - who do you think will increasingly become interested at this area (purple circle)
In my opinion it is buyers
Meaning their stop losses might be below the zone (purple line)
BUT
That is not all - Who would be interested in price breaking below that zone because the market has been bearish for the past few days?
I think sellers because remember I told you in my analysis a few days ago - the dealer has to give sellers a win because he doesn't want them to become smart and stop going against the direction (counter trend)
Who do you think is all riled up right now? SELLERS
Don't believe me? go in the Gold live trading chat on tradingview and read what everyone is saying
Sellers are interested in the break out
if the dealer creates that breakout sellers will sell
The question is - will he continue to sell?
My advice is to continue to wait for CPI to occur and let's see what is what from there
My question to you is - who do you think will increasingly become interested at this area (purple circle)
In my opinion it is buyers
Meaning their stop losses might be below the zone (purple line)
BUT
That is not all - Who would be interested in price breaking below that zone because the market has been bearish for the past few days?
I think sellers because remember I told you in my analysis a few days ago - the dealer has to give sellers a win because he doesn't want them to become smart and stop going against the direction (counter trend)
Who do you think is all riled up right now? SELLERS
Don't believe me? go in the Gold live trading chat on tradingview and read what everyone is saying
Sellers are interested in the break out
if the dealer creates that breakout sellers will sell
The question is - will he continue to sell?
My advice is to continue to wait for CPI to occur and let's see what is what from thereUPDATE - in this current area (purple circle) it appears that price is sticking around for some time
My question to you is - who do you think will increasingly become interested at this area (purple circle)
In my opinion it is buyers
Meaning their stop losses might be below the zone (purple line)
BUT
That is not all - Who would be interested in price breaking below that zone because the market has been bearish for the past few days?
I think sellers because remember I told you in my analysis a few days ago - the dealer has to give sellers a win because he doesn't want them to become smart and stop going against the direction (counter trend)
Who do you think is all riled up right now? SELLERS
Don't believe me? go in the Gold live trading chat on tradingview and read what everyone is saying
Sellers are interested in the break out
if the dealer creates that breakout sellers will sell
The question is - will he continue to sell?
My advice is to continue to wait for CPI to occur and let's see what is what from there
Related publications
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.