Last week (wk of 3/9) gold was BEARISH! This week we see similar changes, once again the Interbank/Commercial adds to their long positions while once again decreasing shorts. While Institutions once again decreased both long and short positions. Lastly open interest dropped 691.985k to 633.47k.
Also commercials have been heavily selling Gold since June 17, 2020....
With the US markets taking a hard hit this week amongst the Coronavirus becoming a possible pandemic, smart money is moving to safe haven assets like Gold.
If you were to drop down to the hourly timeframe you can see the triple bottom in more detail.
🎯2 at WAP. Will share clearer picture of that drop from weekly timeframe in next publication/post. (See link in this analysis to first markup of the year on US30 where our drop forecast was shared here and our previous analysis on the 4Hr prior to initial drop this week with the growing concerns over the Coronavirus.
Commercials have been heavily selling gold since mid June 2019.
Per the 2/24 COT Net Positions for commercials they have decreased their long positions and increased their short positions. While the COT Net Positions for institutions have increased both their long and short positions. (There are two types of institutional traders which are long-term and...
Smart Money is soaking up liquidity
This whole zone including the possible h&s patterns completion is within a zone a range of consolidation on higher timeframe thus you can view it as a market top and potential trap zone.
The USD still has room to breathe and reach within the zone of 100.60-105.60 before it tops and consolidates on higher timeframe
Commercials Net Positions 1/27:
Buys 212k Sells 564k
Commercials Net Positions 2/3:
Buys 192 Sells 553.
🤔Thus telling us they have decreased long positions and decreased short positions
Institutional Net Positions 1/27:
Buys 374k Sells 57k
Institutional Net Positions 2/3:
Buys 376k Sells 46k.
🤔Thus telling us they have increased their long positions and...
Beautiful Wyckoff Distribution Schematic 1 on the weekly timeframe, price is now creating the LPSY which will break the ice for the next drop to occur sending price on a markdown.
Nice Smart Money Sell Setup. They tricked dumb money into buying allowing them to enter sells at discounted price levels. Price has settled below the WAP where it is now creating the...
Smart Money has setup the 90% aka the ‘dumb money’ into selling the market all awhile they’re buying into the market. Creating and imbalance of S&D, steadily accumulating and soaking up sellers. Thus, price rallied and has now settled above the WAP
Monthly (1.27953) support being respected
Smart Money has setup the 90% aka the dumb money into selling the market all awhile they’re buying into the market. Creating and imbalance of S&D, steadily accumulating and soaking up sellers.
Weekly (0.67400) support being respected