Santa is not coming this time: looking for a new local low
So triangle brake out and testing new local highs turned 180 in just a few moments.
Upcoming trade war seems to be main reason in pair with subtle but maybe just emerging financial problems of global economy. Overall trend for Gold should be upwards and in bigger picture it is based on growing worries around the world in geopolitics and economy. Despite that it seems that bigger ignition won't be happening yet, we need more facts from the world, sadly something worrying like stock market crash, failed North Korea integration, China being more militarily aggressive in region?
Please suggest in comment would could be in your opinion a trigger to global issues but also a strong uprising of gold. Or maybe you think that gold could raise without crisis situations?
From too big long I've turned over to short and I guess this move would be the same as yesterday on EURUSD so it wont recover in hours plus it will led us to new lows. I think it could be around 1276 and that will be place where I will change short back to long term long.
Upcoming trade war seems to be main reason in pair with subtle but maybe just emerging financial problems of global economy. Overall trend for Gold should be upwards and in bigger picture it is based on growing worries around the world in geopolitics and economy. Despite that it seems that bigger ignition won't be happening yet, we need more facts from the world, sadly something worrying like stock market crash, failed North Korea integration, China being more militarily aggressive in region?
Please suggest in comment would could be in your opinion a trigger to global issues but also a strong uprising of gold. Or maybe you think that gold could raise without crisis situations?
From too big long I've turned over to short and I guess this move would be the same as yesterday on EURUSD so it wont recover in hours plus it will led us to new lows. I think it could be around 1276 and that will be place where I will change short back to long term long.
Comment:
Bigger picture how Fibonacci Speed Resistance was placed. This time I used in this uptrend low which was higher than low of previous downtrend. So far was placing it at that first ('total') low, which way is better you think?
Comment:
Complete perspective of transition from downtrend to current one:
Trade closed: target reached:
Shorts closed with profit so some assets restored. Now long with stop and maybe back to shorts at 1270. Although now we would probably bounce in range of 1274-1280, will use one of my 'units' to possibly trade that.