I prefer to look and analyze the market from a long term perspective. Therefore I ONLY look at the market in the daily, weekly, and monthly timeframes. I find that these time frames are consistent in the overall direction in which the market will move in. Which helps predict the next direction in the market.
I am making a daily prediction that the GOLD could sell! If you apply the 200MA in the daily timeframe, you will see that the market is approaching the 200MA. After years of analyzing any market I noticed a pattern. Anytime the market is close to the 200MA the market could possible set itself up for a buy or a sell.
I am not sure when or if GOLD could sell but if it does I will post again about the price action candles that could form around the 200MA.
(I am also doing this as a trading journal to look back in the future to see if my predications are accurate)
I am making a daily prediction that the GOLD could sell! If you apply the 200MA in the daily timeframe, you will see that the market is approaching the 200MA. After years of analyzing any market I noticed a pattern. Anytime the market is close to the 200MA the market could possible set itself up for a buy or a sell.
I am not sure when or if GOLD could sell but if it does I will post again about the price action candles that could form around the 200MA.
(I am also doing this as a trading journal to look back in the future to see if my predications are accurate)