purpurato59
Short

Selling climax

COMEX:GC1!   Gold Futures
Last friday we saw another failed attempt from bulls to take over the market. The result was this daily shooting star candle, signaling the beginning of the downtrend. The 0,5 angle is now acting as resistance and next target is at least on the 0,382 angle below. My short signal is active on the weekly and daily, and even the monthly which I rarely look, is pointing towards the same downward momentum.
There is one important factor about timing that should not be neglected: next week: it's the beginning of the full moon . Note how many times there has been a selling spree during this period. During new moon , marrket tops and the next downward phase has its selling climax during the full moon .
Place your short, be gentle to wife/girlfriend and enjoy the week.
Trade active: Another rejection and the resistance line still intact.
Trade active: One target reached, and still no signs of reversal. Jackson Hole, was just another rejection.
Thank you for that info! We have also lunar eclipse on 18.08 and solar eclipse on 1.09 ;)
+1 Reply
purpurato59 trading4fun
Interesting, I'll look more in detail into it.
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