GOLD: News or Technical Analysis?#Perfect Spot and BULL-concerns
Hey tradomaniacs,
in this chart I want to show you my concerns about Gold and why I wouldn`t buy right now.
Technically we see a very nice chance to buy right at the trendline, especially since the correction seems to be done according to E.W. and the fact that we are right at the trendline PLUS a very nice round number, which is 1.500 here.
The 4h and Daily-Chart would give us a very nice opportunity to buy here with a very great Risk-Reward-Ratio.
Buy the questions for me: Who is going to win? TA`s or fundamentals?
Will see a bulltrap ?
Yersterday we have seen a flood a bullish news for the stock-market:
"China`s Premier Li say that us and China should find a solution to the ongoing trade dispute and hopes that trade talks make progess.
There was an immediate "risk on" move. European equitiy indices spiked higher as a result of these headlines."
Right after we have seen a tweet by Trump saying that he doesn`t need John Bolton, a convonced hardliner anymore.
Trumps rating has never been as bad as now and he will have to "calm down" in terms of tradewar talks in order to advoid a recession in the USA which is, and that is what the market believes, caused by the tradewar and its tarrifs.
If he wants to be re-elected in 2020, he`d have to push the "risk aversion" and give the market reasons to shift there money into the stock-market.
A higher risk-aversion would weaken Gold and push the globale Stock-Market, such as indicies like S&P500.
Additionally we see positive reactions by the bulls and in terms of correlations we can see bullish momentums at USD/JPY and USD/CHF, which are correlating with the stock-market.
And since everyone seems to bullish, this would provide a lot of liquidity to the Big Players to sell. ;-)
So what is going to win? This uptrend? Or will Trump violate the Trendline?
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
in this chart I want to show you my concerns about Gold and why I wouldn`t buy right now.
Technically we see a very nice chance to buy right at the trendline, especially since the correction seems to be done according to E.W. and the fact that we are right at the trendline PLUS a very nice round number, which is 1.500 here.
The 4h and Daily-Chart would give us a very nice opportunity to buy here with a very great Risk-Reward-Ratio.
Buy the questions for me: Who is going to win? TA`s or fundamentals?
Will see a bulltrap ?
Yersterday we have seen a flood a bullish news for the stock-market:
"China`s Premier Li say that us and China should find a solution to the ongoing trade dispute and hopes that trade talks make progess.
There was an immediate "risk on" move. European equitiy indices spiked higher as a result of these headlines."
Right after we have seen a tweet by Trump saying that he doesn`t need John Bolton, a convonced hardliner anymore.
Trumps rating has never been as bad as now and he will have to "calm down" in terms of tradewar talks in order to advoid a recession in the USA which is, and that is what the market believes, caused by the tradewar and its tarrifs.
If he wants to be re-elected in 2020, he`d have to push the "risk aversion" and give the market reasons to shift there money into the stock-market.
A higher risk-aversion would weaken Gold and push the globale Stock-Market, such as indicies like S&P500.
Additionally we see positive reactions by the bulls and in terms of correlations we can see bullish momentums at USD/JPY and USD/CHF, which are correlating with the stock-market.
And since everyone seems to bullish, this would provide a lot of liquidity to the Big Players to sell. ;-)
So what is going to win? This uptrend? Or will Trump violate the Trendline?
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
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