COMEX:GC1!   Gold Futures
5.31.23 This video was a review of oil which had a great move lower to the bottom of a lower range box... if I had been long I would probably just take my profits as I explained in the video. it is at a potential support area but we need another 4-Hour Bar which would take over an hour for me to make a trade decision. At the end of the video I started To talk about gold which did reverse and start moving lower before it reached the 382... and that is a bearish signal. However, It hasn't really Gone much lower. If the market does not go lower than where it is and it starts to reverse to make a new high you would have to exit A short trade.... or you would consider buying the market if it looks like it's going to start trading Higher. It's a tough call right now.... A short trade with the barely in the money and if the market can only go lower to the minimal Correction lowerLooks like it's going to reverse this is potentially the setup for a big move higher. This is what we talked about with oil... just apply the same thinking: Small reversals with minimal range Followed by A quick reversal in the other direction suggest that initial reversal was less relevant and that the market is going to reverse and go any other direction. It's what a market does and what it doesn't do....And you don't want to get trapped in minor reversals.
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