very peculiar situation on gold. analyzing the structure on a daily chart it looks like chances are still high that we will see a pullback from current levels 1453 - 1460 and I still keep my long active.
HOWEVER
it looks like selling pressure is also accumulating. if bears will manage to break below the underlined zone it will trigger a massive selling reaction and will drive the market even lower to 1440 levels.
as it usually goes with the financial markets, we have a very ambivalent situation. be flexible and follow the market!
Well if the banks started to do short selling for your retail traders will sell as well...
Its a very difficult scenario to predict. But Looking at Nasdaq I can say that it will push down Gold.
Anderson-FX
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@kashifali6, <deleted>
Yes, actually a huge movement is coming.
Anderson-FX
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@Anderson_Guilcapi,
Anderson-FX
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@Anderson_Guilcapi,
VasilyTrader
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Share your thoughts on GOLD here!
salvanost
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@VasilyPonomarev, using this one for daily trend line
Anderson-FX
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@VasilyPonomarev, <deleted>
Johannes100
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What if gold go down a another $50 like $1412 will be better toe buy gold
Its a very difficult scenario to predict. But Looking at Nasdaq I can say that it will push down Gold.