COMEX GOLD - OVERSOLD HIGHTIME FRAMES (INFLATION HEDGE)
Technical Overview: - GOLD $2000 TARGET🎆
Check out our previous posted analysis about XAU/USD
![COMEX - SMART MONEY ANALYSIS [$2000 LONG-TERM]](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
PREVIOUS WEEK ^
🎇Gold vs Dollar, Safe haven vs Inflation, we had seen last week Gold had dropped lower to our preferred zone after reacting to our sell marked zone.
Part of trading is picking a side, while we are bulls we need to also be aware of the sell zones that are being developed over time as price makes it's way throughout the market
🎆High Time Frames - Weekly, suggest that we are currently acting within a discounted zone, since this is coming from weekly perspective the range is much bigger.
Smaller time frames still suggests more downside and we have not yet shown any signs of bullish intent however we are within smaller time frame oversold zones within the bigger weekly oversold zone that we are already playing in.
🎡Smaller Time Frame -
We are waiting for price to ideally sweep previous lows and potentially tap into our lower buy zone, since price approached our new zone on Friday, we need to be aware of the new weekly cycle.
🤫What do banks do and why?
Central banks sell hundreds of tonnes of every year but why? if gold is good why sell it? sounds dumb right? to keep you believing in currencies.
Former Chair of the Federal Reserve of the United States "Alan Greenspan" in testimony to congress (admitted) to manipulating the price of Gold .
he said "Central banks stand ready to lease gold in increasing quantities should the price rise" they suppress the price of gold purposely.
🛒 WHY IS PRICE THIS LOW?
Price was too high back in 2020 at the peak of $2000
This was clearly overbought and the people who rallied gold are institutional banks (retail traders can not move price)
This was a huge move in the market at the time, this was fueled by the fear driven in the world at that time (COVID)
Due to the fact that price was overbought, banks needed to close their positions and liquidate retailers who bought in while driving price lower to enter on cheaper prices, it's like two birds one stone, when you have money you have power and us retailers are powerless to the banks.
Use our analysis as a sentiment
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
Check out our previous posted analysis about XAU/USD
![COMEX - SMART MONEY ANALYSIS [$2000 LONG-TERM]](https://s3.tradingview.com/o/O42RAH7C_big.png)
![COMEX GOLD - NEAR OVERSOLD AREAS [$2000 LONG-TERM]](https://s3.tradingview.com/e/eQ2VKl7J_big.png)
🎇Gold vs Dollar, Safe haven vs Inflation, we had seen last week Gold had dropped lower to our preferred zone after reacting to our sell marked zone.
Part of trading is picking a side, while we are bulls we need to also be aware of the sell zones that are being developed over time as price makes it's way throughout the market
🎆High Time Frames - Weekly, suggest that we are currently acting within a discounted zone, since this is coming from weekly perspective the range is much bigger.
Smaller time frames still suggests more downside and we have not yet shown any signs of bullish intent however we are within smaller time frame oversold zones within the bigger weekly oversold zone that we are already playing in.
🎡Smaller Time Frame -
We are waiting for price to ideally sweep previous lows and potentially tap into our lower buy zone, since price approached our new zone on Friday, we need to be aware of the new weekly cycle.
🤫What do banks do and why?
Central banks sell hundreds of tonnes of every year but why? if gold is good why sell it? sounds dumb right? to keep you believing in currencies.
Former Chair of the Federal Reserve of the United States "Alan Greenspan" in testimony to congress (admitted) to manipulating the price of Gold .
he said "Central banks stand ready to lease gold in increasing quantities should the price rise" they suppress the price of gold purposely.
🛒 WHY IS PRICE THIS LOW?
Price was too high back in 2020 at the peak of $2000
This was clearly overbought and the people who rallied gold are institutional banks (retail traders can not move price)
This was a huge move in the market at the time, this was fueled by the fear driven in the world at that time (COVID)
Due to the fact that price was overbought, banks needed to close their positions and liquidate retailers who bought in while driving price lower to enter on cheaper prices, it's like two birds one stone, when you have money you have power and us retailers are powerless to the banks.
Use our analysis as a sentiment
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
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