Please watch the entire video for a full breakdown as to why price is behaving this way & where it will go next.
Price is looking to grab liquidity at 1469 which is exactly where the first bearish channel descends creating a heavy resistance level there. Once those orders have beengrabbed expect price to see a downwave at least into the 1440 Range. Upon mulitiple factors as to why price will shoot down i.e consumer spending increase, end of year repo and deals (to keep economy in the dark and happy so we keep spending) etc etc along with wave analysis & harmonics which I cover in my premium telegram. Feel free to leave a comment on your thoughts and join my team.
We dont make dreams come true
We turn our realty into a fantasy
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Keep in mind Range for bull can extend from 1469-1473
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Price fail to break below and shot up to the 1460's region
all trades still in play and dripping heavy in profit
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Bias remain for upside liquidity grab all buys currently active in profit and looking to score around 1469
hopefully a breakage above leads us to 1474-1478
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nuys completed at 1475 now we wait for sell confirmation
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would like to see a retracement at 1472-1474 then price squeeze at 1485 before falling
@herdelphiniums, Thanks! hope you came out of this trade successful !
Billham08
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Pretty Lines. Looks like you have mastered the line drawing course of your telegram group.
ferrarigold
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@Billham08, well appreciated, yes this is just basic TA wanted to keep it super simple for all the new traders out there whom are looking to profit for the holidays and start their 2020 right!
There is a lot more behind the scenes that are going on which I dissect down to the minute chart in my open telegram discussion for gold traders
Ninadon
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@ferrarigold, what’s the name of your group on telegram ?
doq
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excellent! watched it all and get ur 1420 case, esp that impulse wave. However I'm following 2 larger bullish impulses going back years and other elements say bottom here to me ..but hey, 1420 might be a stronger bottom, i.e. the real bottom really. Will think about this more.