GOLD
Buy setup
Continuation trade:
💪🏼 GOLD as well has successfully made a rebound from the said 61.8% area and is approaching back to the 50.0% area. Noticed that market sentiment on retail traders are shorting the gold at the end of last week as price has approached so called 'resistance'.
2 major reasons why I'll be on the opposite side of the crowd:
1. Market usually oppose the market sentiment
2. Back in W2 MAR 2021, Ending diagonal was a success in the lower timeframe as mentioned here (www.tradingview.com/x/n7VYR2I9/), this pattern indicates a strong trend reversal.
Buy setup
Continuation trade:
💪🏼 GOLD as well has successfully made a rebound from the said 61.8% area and is approaching back to the 50.0% area. Noticed that market sentiment on retail traders are shorting the gold at the end of last week as price has approached so called 'resistance'.
2 major reasons why I'll be on the opposite side of the crowd:
1. Market usually oppose the market sentiment
2. Back in W2 MAR 2021, Ending diagonal was a success in the lower timeframe as mentioned here (www.tradingview.com/x/n7VYR2I9/), this pattern indicates a strong trend reversal.