MrRenev

Gold imminent flush is likely

Short
MrRenev Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
Price is currently in a weekly inside bar, getting tighter and tighter. I think we ran out of buyers, and the fomo crew is bagholding.
A flush may be be necessary before continuation up. Capitulation, bottom (I'll be a buyer), and then uptrend continuation.


There is also this larger pennant:





Trade active:
At the top of the range.

Comment:
Price is just messing around.
We are all waiting for a big fund to just get courageous and decide if they want to buy or sell.


This does not invalidate the trade. The price messing around after a false break in the wrong direction before going the other way is common.
Here is an example:
Comment:
Talking about the SEK, I wish I shorted that...

Trade closed: stop reached:
I hope I did not get stopped at the top.
Not like it would be anything new.

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