🥇 GOLD - The sell-off could continue from 2065The beginning of correction ↓:
Difficult situation. All the potential has been exhausted since the beginning of the trading session. But at the moment nothing but correction and selling should be considered.
1) Important level 2065.
2) retest and break of 2065 level will form sales and price correction to the support.
3) The market has updated the maximum of gold for the last 3 years. The new high is 2149
4) From the high, sellers have sold off all the upside. Price is trading at the opening point of the session - this is a strong signal before something big starts.
Gc11
GOLD 4hour technical say = buystop on last high 70% breaking yesterday high is buy signal , all pro trader looking for fibo 61% = 1900 area
AC indicator on daily chart is green mean =up trend will start soon (if low not break,break low will switch signal)
30% bad scenario= need bad news= if low break gold can go to fibo 615 daily near 1750 (i will buy there after buy pinbar come for hold 30-40 day to next high )
alert= break 1950 big trendline can flyup gold to 2070 even 2350 , so be careful from sell 9100% put sl on last high or 8.00 point)
if you have old sell 100% put SL or hedge buystop 1845(dont forget gold love buy and up trend)
www.tradingview.com
wish you win ❤️
Gold daily = all scenario on gold for coming weeklook like gold want touch 1965 , then it can go down
gold daily chart technical say gold must go down to Fino 50% area ( I think red scenario will happens)
let see gold futures and Cot data (big banks net open order)
AC indicator was red,but price move up and break high yesterday true? so its sell signal now switch to buy
STRONGLY ADVICE DONT PICK SELL WITOUT PINBAR VERFY,,,wait pinbar comes on higher time then pick sell with SL on pinbar high
ALERT= as predict 2 week ago on weekly chart gold upper target is 2350-2400$ so be careful from sell,never remove SL
www.tradingview.com
wish you win
ridethepig | Gold breaking out📌 @ridethepig Gold Market Commentary 21.12.2020
Floor and support building
We have just played a perfectly timed ABC sequence towards $1,800 with all the wanderlust to the sellers who were so full of hope. But there are sometimes subtle differences between a pullback to gather energy (for the next leg up) and a full blown retracement. There may be all sorts of risk storming the macro tale, but no one seems to be paying attention to the economy catching the sniffles. To protect ourselves against the dangers of protectionism and the wandering printer, we should always think about having some exposure to Gold. The timing of which is what defines us as traders.
In this position, the 5th wave in an impulsive sequence towards the topside is an obvious play. Being able to move from the loading zone was our plan as we exposed levels where sellers would want to take profits and buyers would enter in a series of orders. The correct play is continue adding longs, take shelter in the shiny metal until risk dare not come out once more. Here still eyeballing $1,960 for the yearly close and $2,075 for January.
Thanks as usual for keeping the feedback coming 👍 or 👎