GOLD - It Moved Down as Expected But It May Rise Again
In today's video, I shared some other details related to gold.
The base analysis remains the one that I posted two days ago.
You may find more details in the video! Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Previous analysis:
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GOLD - Price reached 2180 as expected
As I explained in yesterday's analysis, the chances were high that the price would test the top. GOLD has already reached 2180.
Considering we have the FOMC next week, the price may wait in this zone before the next move. So far the pattern is bearish, but we have seen recently that GOLD is not respecting technical analysis much as it is being manipulated.
We shouldn't be surprised if GOLD makes a new all-time high. It is bearish so far and may move down again to 2158
On the other hand, GOLD is in a strong manipulated bullish trend. It is not so easy to surf these waves:)
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🚨GOLD - > 🎯2158 was reached as expected for the small bearish move:)
Thanks again for this - really helped so far placing trades (!) lets see if it all checks out :)
basictradingtv
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Seems logical after this runup but overall it is a very strong breakout with (much) more upside🤑🤑
JoeChampion
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Since the last CPI was hot that should trigger USD strength and put some pressure on gold. so i think your trade should work!
FOMOMANIA
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This literally was confirmed (on a micro level so to speak) as my very tightly ser P&L got stopped out during the little jump the price just did... Not a good idea interpreting trades either way atm I think... needs further observation.
KlejdiCuni
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@FOMOMANIA, It is required a lot. I have explained the risk involved in gold which is not a technical trading anymore as we can never trade in a manipulated market. It can move up and down without any reason.
FOMOMANIA
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@KlejdiCuni, probably second-worst after OIL haha yes... very awful for daily trades ... I do see the reasoning for a correction though even though I would not encourage treating this as a daily profit taking set up. Weekly behaviour and thus using wider ranges for trades seem safer to me ... That said, some plays may not trigger at all if one is that careful but this is a high risk commodity so it is what it is.
KlejdiCuni
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@FOMOMANIA completely agrees with you.... OIL could be the next one to make a manipulated move again as long as the main Instruments (Gold and BTC) already moved: 😂