Gold is currently showing clear signs of structural weakness after a strong bullish phase.
From a positioning perspective, COT data suggests that non-commercial traders are starting to reduce long exposure while increasing shorts, indicating a potential shift in sentiment. At the same time, retail traders remain heavily positioned on the long side, which typically acts as a contrarian signal.
Seasonality does not support strong upside continuation in this phase, reinforcing the idea that the market could be transitioning into a corrective or distributive environment.
Technically, price has broken its previous bullish structure and is now trading within a descending channel. The recent move lower shows strong displacement, suggesting that sellers are currently in control.
In this context, I am not interested in buying dips. Instead, I will be focused on potential pullbacks into premium areas, looking for confirmation to position short.
As long as price remains below the recent supply zone, I expect continuation toward lower liquidity levels in the coming sessions.
From a positioning perspective, COT data suggests that non-commercial traders are starting to reduce long exposure while increasing shorts, indicating a potential shift in sentiment. At the same time, retail traders remain heavily positioned on the long side, which typically acts as a contrarian signal.
Seasonality does not support strong upside continuation in this phase, reinforcing the idea that the market could be transitioning into a corrective or distributive environment.
Technically, price has broken its previous bullish structure and is now trading within a descending channel. The recent move lower shows strong displacement, suggesting that sellers are currently in control.
In this context, I am not interested in buying dips. Instead, I will be focused on potential pullbacks into premium areas, looking for confirmation to position short.
As long as price remains below the recent supply zone, I expect continuation toward lower liquidity levels in the coming sessions.
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.