0810 8H GOLD new leg down to 1680???
Hello traders,
Last idea price action of GOLD sent us a signal that it might break the trend line to rise up again .
This idea looks weak before NFP today. Buyers would not risk to open position before that, so do sellers. And on the right 8H chart, once it got a confirming signal closed 30m after NFP, it should looks like channel trend continuation down to test the bottom support zone for sellers. And GOLD is looking still bearish on wkly chart, so this 8H confirming signal will support the bearish idea on wkly chart too.
So just wait and keep following the new 8h confirming signal later.
GOOD LUCK!
LESS IS MORE!
Last idea price action of GOLD sent us a signal that it might break the trend line to rise up again .
This idea looks weak before NFP today. Buyers would not risk to open position before that, so do sellers. And on the right 8H chart, once it got a confirming signal closed 30m after NFP, it should looks like channel trend continuation down to test the bottom support zone for sellers. And GOLD is looking still bearish on wkly chart, so this 8H confirming signal will support the bearish idea on wkly chart too.
So just wait and keep following the new 8h confirming signal later.
GOOD LUCK!
LESS IS MORE!
Comment:
This weekly chart is very helpful for nextweek.
