From the technical view:
1. From the Monthly perspective, the price created an impulse to the upside with the proper retracement, and now we can expect another impulse to the upside, but this is for more long term's views.
2. From the Weekly perspective, we have more than one bearish structure on the weekly timeframe, which is the LH and LL formation. Short term downside is expected.
3. From the Daily perspective, the bearish price action is more obvious than the weekly, price creates an impulse following by a retracement, now we can expect a new impulse to the downside in the coming week.
From the fundamental view:
1. Big players bearish bias on GOLD in the short term
2. In the new report, more than 1.2k short position added on the gold and bringing the net position decreased to 257,126 from the ordinary 279,318.
3. Combining with the TA and FA, short term downside on gold is quite possible.
How to approach GOLD?
1. Waiting for the proper retest on the new resistance level highlighted by me. After that, we can look for a short opportunity on the lower timeframe, if your rules of the strategy are fulfilled.
2. Just short when the market opens is not a good idea, because you will miss out on your area of value.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on GOLD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly perspective, the price created an impulse to the upside with the proper retracement, and now we can expect another impulse to the upside, but this is for more long term's views.
2. From the Weekly perspective, we have more than one bearish structure on the weekly timeframe, which is the LH and LL formation. Short term downside is expected.
3. From the Daily perspective, the bearish price action is more obvious than the weekly, price creates an impulse following by a retracement, now we can expect a new impulse to the downside in the coming week.
From the fundamental view:
1. Big players bearish bias on GOLD in the short term
2. In the new report, more than 1.2k short position added on the gold and bringing the net position decreased to 257,126 from the ordinary 279,318.
3. Combining with the TA and FA, short term downside on gold is quite possible.
How to approach GOLD?
1. Waiting for the proper retest on the new resistance level highlighted by me. After that, we can look for a short opportunity on the lower timeframe, if your rules of the strategy are fulfilled.
2. Just short when the market opens is not a good idea, because you will miss out on your area of value.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on GOLD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.