The previous Idea worked 100%.
In the coming week, the trading instrument is likely to start an upward movement.
The CoT gold report data reflects an increase in bearish sentiment, namely a decrease in buyers by 13% and a decrease in market capitalization by 7%. Continuation of this trend may contribute to lower prices for the precious metal.
Data from CoT reports on the dollar index (USDX) reflects the growth of bullish sentiment on the US currency. After a 2-week decline, traders made another attempt to turn their net position on USD growth higher. At the same time, the net position of large speculators began to grow from levels that were the lowest in almost two years. Large funds increased buying by 7% for the week, selling was also reduced. Continuation of this trend may contribute to the growth of the US currency.
Based on my vision of the market, I can add the following, the price gave a reversal formation at the end of the week, but according to CoT reports on gold, we are bearish (which I believe has been worked out, since we receive data with a delay of 4 days) and lack of liquidity on both side of the price, it will probably be about trading in the corridor of the price range 1936-1956 in order to accumulate liquidity, respectively, about the trader ends with the removal of stop orders, my mood from the beginning of the new week is long, medium-term target 2008.
Entry into positions is carried out only when a confirming pattern is formed.
Dear friends, if you have any questions about the description, please write in the comments.
OB - Order block.
POC - the price level at which the largest volumes were traded.
IDM - liquidity inducement.
In the coming week, the trading instrument is likely to start an upward movement.
The CoT gold report data reflects an increase in bearish sentiment, namely a decrease in buyers by 13% and a decrease in market capitalization by 7%. Continuation of this trend may contribute to lower prices for the precious metal.
Data from CoT reports on the dollar index (USDX) reflects the growth of bullish sentiment on the US currency. After a 2-week decline, traders made another attempt to turn their net position on USD growth higher. At the same time, the net position of large speculators began to grow from levels that were the lowest in almost two years. Large funds increased buying by 7% for the week, selling was also reduced. Continuation of this trend may contribute to the growth of the US currency.
Based on my vision of the market, I can add the following, the price gave a reversal formation at the end of the week, but according to CoT reports on gold, we are bearish (which I believe has been worked out, since we receive data with a delay of 4 days) and lack of liquidity on both side of the price, it will probably be about trading in the corridor of the price range 1936-1956 in order to accumulate liquidity, respectively, about the trader ends with the removal of stop orders, my mood from the beginning of the new week is long, medium-term target 2008.
Entry into positions is carried out only when a confirming pattern is formed.
Dear friends, if you have any questions about the description, please write in the comments.
OB - Order block.
POC - the price level at which the largest volumes were traded.
IDM - liquidity inducement.
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👉 t.me/forexexrate
🔸 Торговые идеи и сигналы
🔸 Обучение стратегии
🔸 Новости
🚀 Всем профита!