buyers are being setup for a trap , it seems obvious but dont

Sep 5

my theory for gold sells

*I was initially bullish until
I noticed a few tricky things

* structure number 2 is not
a solid low, meaning they
have not proven themselves
to be stronger than number 1
sellers, because they have not
created a push above them,
so this low is misleading and
not a proper stop

* obv is in a downtrend while
price is in an uptrend, obv
in downtrend means that there
is an increased selling interest ,
so this diverging from price going
up can only mean .... there
are no buyers and price is not going up
due to a huge amount of buying power but the sellers are not pushing too hard in specific areas

* the 3 support lines are not solid support, in fact they are all wicks and 'fake lows'

* I dont have a solid stop to enter a short,
but all these things + divergence on rsi and mfi is just telling me that the obvious
buy trade might be a trap

Sep 5

Order cancelled

wow I was so wrong, well , at least I did not lose anything.