I'm on gold from a weekly perspective, but we are still in what I'd call a Trap phase.
We have broken a daily trendline, but I think that there are a lot of early/eager bears thinking they caught a top (maybe they have)
But if I'm a banker or market maker I can see a ton of stop losses sitting above this .
I would want to trigger all of them, then sell gold off.
For that reason I will be buying into the stops, and selling once they clear.
My key level is 2027-2030. I've been waiting for them to mitigate at this price for almost two months now.
Check my prior posts,
Want to learn my strategy?
Join the Elevated Trade House Here -> DM me.
View My Performance -> Coming Soon (myfxbook)