Now, 1255 is proven to be a very supportive stage. It can become a strong support. So, please be careful, if you looking for short at this stage.
Inflation globally is picking up. It has a positive effect on Gold. It might bring gold price higher.
I am starting to stand with GOLD bullish.Let's see. Bears pls be careful.
Trade Safe,
s0nic
Disclaimer : This analysis not include personal feeling/opinion, and pure base on technical analysis Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
please inform me with post a comment if it reach some critical point/break pattern, reach target/reach stop level. or if there is any question about this analysis/need new update. Because im not monitoring this chart all time.
wanted to get your opinion on using volume as a good indicator to go long -
looking at the chart, i see a big red candle on 18/05 with very high volumn likely MMs are buying. Then see another red candle that is very much sold into on 14/06 again with very high volume, but slightly lower volume that first red candle. Then again a third red candle with high volume, but again lower than second and third on 07/07 - looking at this you can assume MMs are buying as each time there is a big drop and high volume, but volume is decreasing on each subsequent red candle. Based on this what would be the argument for/against of taking a longer term LONG position following the green candle on the 14/07 after some ranging on 12/07 and 13/07? Have i missed some analysis here?
@basdar, Also a quick follow up - what does it mean if you notice the volume is increasing and not decreasing, so lets say price is going up and MMs are selling, but volume is increasing with each big move up rather than volume decreasing where you would expect to take a short