XAUUSD (GOLD) POTENTIAL SHORT OPPORTUNITY (MID-TERM) 2-5 WEEKS
Hey everyone hope you're having a blessed week so far! I just wanted to get on here and post an opportunity I see here on Gold for some potential shorting opportunities. SO LETS DIVE IN!
Okay so on the 1st of the month we had seen Gold make a huge push to the upside, resulting in the highest PPO (price per ounce) that we have ever seen on Gold in history! Pretty exciting. But what you notice right afterwards is price immediately falling at the same significance, even a little further, then the rise that had occurred originally, showing to me that this run may have been to build liquidity rather then true demand driving prices higher. BUT EITHER WAY this displays to us that price failed to make a higher high, sellers took price immediately back below ATH (all time highs) in price and now we have seen a potential shift in Gold to look for some more further downside.
NOW. WAIT. You always have to wait to see how the buyers in this case respond to price being smashed back down and see how they react. Are they aggressive? Are they showing strength? Well as you can see...they aren't. It just seems as if the buyers are now completely absent; well at least the big boy buyer is. Which is a SIGN TO ME that we have some more room to downside to build back demand on Gold.
OK so keep an eye out at that hourly supply I have marked off and make sure this buyer stays weaker than seller and I believe we may have some moves to lower areas of demand in price.
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Okay so on the 1st of the month we had seen Gold make a huge push to the upside, resulting in the highest PPO (price per ounce) that we have ever seen on Gold in history! Pretty exciting. But what you notice right afterwards is price immediately falling at the same significance, even a little further, then the rise that had occurred originally, showing to me that this run may have been to build liquidity rather then true demand driving prices higher. BUT EITHER WAY this displays to us that price failed to make a higher high, sellers took price immediately back below ATH (all time highs) in price and now we have seen a potential shift in Gold to look for some more further downside.
NOW. WAIT. You always have to wait to see how the buyers in this case respond to price being smashed back down and see how they react. Are they aggressive? Are they showing strength? Well as you can see...they aren't. It just seems as if the buyers are now completely absent; well at least the big boy buyer is. Which is a SIGN TO ME that we have some more room to downside to build back demand on Gold.
OK so keep an eye out at that hourly supply I have marked off and make sure this buyer stays weaker than seller and I believe we may have some moves to lower areas of demand in price.
CHEERS! Please boost and follow my page for more accurate content!
Comment:
Still watching Gold. I still feel it may potentially have that pullback before reversing to downside so keep eye out potential HUGE opportunity here
Comment:
This has been a fun one...still hasn't hit hourly supply zone after the large liquidity run...would be interested to see if it does...I am not trading it unless it does