Short Turn Bullish-ment

26 Jun 2020

Looks like Gold will go to breach top trend line just like it's done before six prior times in recent history's analyzed in the daily time frame. Each time gold has reason in this scenario pek-a-boo wick with partially body candles it has fallen precipitously no reason for Gold not to follow pattern now ?

26 Jun 2020

Nota

The Red arrow indicates two things here, 1st upper trend line breach, 2nd possible upper (bollinger band breach), BBB both usually indicative of smart money selling off for profit ???

26 Jun 2020

Nota

MEGALO1
4 hours ago
On a daily time frame the analysis calls for a pullback 1753 down as far 1746 arena near term, there is also severe gaps too fill in some of the major miners as well. Given you buy paper miners or the most popular etf's . If one is trading gold in futures be ready for severe volatile whipsaw portfolio erupting (stay away from the futures danger options are much worse!!!) I believe the powers to be are setting up a major bull trap and creating the illusions or thirsty mirages and given an allusion for all traders of a strong bull leg up ,too all new high's with the current geopolitical tensions Chinese Communist Party (CCP Virus) and our on racial apologetic overdone Nation. It seems to be the perfect storm, in favor of bulls. I'm still in the camp of Leonardo it must retrace with a 76% retracement before building any relevant new highs taking place. Too sum things up and to clarify keep your shorts and add to them where its practical and logical to do so, that's my advice and that's what i'm doing here also. As always Good and Fruitful Trading !!
ie... fra978 (KISS) Keep It Smart & Simple :-) Megalo>

26 Jun 2020

Nota

MEGALO1
4 hours ago
fra978, Looks like good positioning one just has too be patient here the risk reward is acceptable. On the counter perfect charts perfect geopolitical realm all say higher which most traders are long i do believe the herd mentality is long at the present ??

26 Jun 2020

Nota

MEGALO1
3 hours ago
If Gold breach's the 1730 mark that would be 7 day ma if you will (guess ta mating) less say next stop is 1689 would be support arena ???

26 Jun 2020

Nota

: I do believe that the civil racial disruptions domestically and the CCP virus (Chinese Communist Party Virus) and the geopolitical tensions are twice baked in when it comes to Golds price action ? I would venture to say that the price of oil has been dinged more then any other commodities with the over propagandized CCP virus and not so much for Gold ! The over propagandized news of social racial inequality does not have any effect on Gold trading in general !!

26 Jun 2020

Nota

One thing i did not Discuss today in my analyzing Gold going up to the price arena i have stated in above comments is realistic and highly probable. So keeping a little insurance like by buying some shorts today would logically be excellent hedge against anything going amiss. :-) That would be conducive from a day traders perspective. Myself being a swing trader hold short and sell off and or buy more or vice versa is more my style.