BEAR TRAP?
As illustrated, I'm trying to visualize what a bear trap could look like if the ascending triangle structure holds as support.
There's a lot of uncertainty with the mixed news that came out, but I never really use news yet alone even trust them.
It is all a manipulation to engage algorithms based on metrics and key words in economic calendars / news.
Based on price action, we're at a very weird spot. There is a lot of bearish strength since Trump's election, yet with a very strong bullish rejection just above 2535 where price bounced in a weekly imbalance.
So the two sides of the story make sense in the short term.
Either way this up-and-down since the elections is building up a lot of liquidity to be taken toward DEC and the beginning of 2025 with what's expected to be a bullish year for gold.
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GOOD LUCK!
There's a lot of uncertainty with the mixed news that came out, but I never really use news yet alone even trust them.
It is all a manipulation to engage algorithms based on metrics and key words in economic calendars / news.
Based on price action, we're at a very weird spot. There is a lot of bearish strength since Trump's election, yet with a very strong bullish rejection just above 2535 where price bounced in a weekly imbalance.
So the two sides of the story make sense in the short term.
Either way this up-and-down since the elections is building up a lot of liquidity to be taken toward DEC and the beginning of 2025 with what's expected to be a bullish year for gold.
--
GOOD LUCK!
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