Gold failed to extend last week’s downtrend today, which aligns perfectly with my analysis. It is only sideways consolidation in the short term, and the bearish trend remains intact as long as the resistance at $4095 is unbroken.
Gold is expected to fluctuate repeatedly to shake out weak longs before resuming its decline in the short run. There will be a bullish pump as market manipulation to liquidate traders before the real downtrend kicks off. Therefore, we should wait for the institutional pump to open short positions, instead of chasing shorts at the lows and getting stopped out.
Entry timing is critical in trading; you need ample time and patience to wait for valid setups. I will release updated trading strategies promptly once opportunities emerge, which will greatly assist you.
Gold is expected to fluctuate repeatedly to shake out weak longs before resuming its decline in the short run. There will be a bullish pump as market manipulation to liquidate traders before the real downtrend kicks off. Therefore, we should wait for the institutional pump to open short positions, instead of chasing shorts at the lows and getting stopped out.
Entry timing is critical in trading; you need ample time and patience to wait for valid setups. I will release updated trading strategies promptly once opportunities emerge, which will greatly assist you.
Trade active
TPTrade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.