As expected, Gold has now touched the Daily Virgin CPR zone @1940-1942 level. I expected a move from 1922 level but Gold sis a deep retracement at 1912 level and shot back up to our expected Virgin CPR zone.
We still have one last Weekly Virgin CPR zone yet to be tested @1956-1960 level. Once that gets tested we can start to looks for sells to downside Virgin CPR levels to get touched.
First Downside Virgin CPR is at 1875-1880 price level.
AS of last COT Non commercial traders report, 72.5% (246,874) are Long and 27.5% (93,634) are Short on Gold. Lets wait for Non commercials and hedge fund traders to switch the bias and then flow along with them.
Note:
Light Purple Zones - Weekly Virgin CPR
Light Maroon Zones - Daily Virgin CPR
Share your thoughts as comments below.
Happy Trading..!! :)
We still have one last Weekly Virgin CPR zone yet to be tested @1956-1960 level. Once that gets tested we can start to looks for sells to downside Virgin CPR levels to get touched.
First Downside Virgin CPR is at 1875-1880 price level.
AS of last COT Non commercial traders report, 72.5% (246,874) are Long and 27.5% (93,634) are Short on Gold. Lets wait for Non commercials and hedge fund traders to switch the bias and then flow along with them.
Note:
Light Purple Zones - Weekly Virgin CPR
Light Maroon Zones - Daily Virgin CPR
Share your thoughts as comments below.
Happy Trading..!! :)