With every new try it is more likely that we will see price breaking below. Like we said many times before we expect price to reach the 1775 level.
Then any active sell trades will be with stops in a positive territory and when it comes to new entries, we recommend to wait for a clear breakout!
The next downside move should take the market down to 1775.
To find out how this position develops make sure to follow us!
We do not try to explain economic or social principles - this is not the place about!
The trend is down and we are benefiting from it.
In the last 2 weeks there were many sell opportunities that were successfully completed and reach their target zones.
Here is one of them:
And last but not least.
What time frame do you trade economic principles on? H1 ... great, you probably know better!?
We look at bigger chart when we talk about economic principles!
In the long term, we expect gold to go over $ 2,000 and even $ 2,500, but that doesn't mean we won't see $1,775 and lower levels, where we can buy before.