Gold possible Long
Updated
I am bullish on Gold and waiting for US UoM Consumer Confidence for possible Sell Off in Gold (If Number is very good!).
Note
Whether this is a bull trap in the bigger picture depends on 5y 5y inflation expectations and Fed's willingness to raise rates, so keep a look at those 2 things. Fed members said they wanna wait for maximum employment, which they get through increased inflation, however too high inflation might make this goal unreachable for the Fed and force them to increase rates earlier than they've stated previously. This would cause a huge sell off in Gold.Note
*And a sharp rise in the DXY.Note
wait for pullback, then enter short. we are playing risk on again
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.