Here is my plan...
I don't want to make things complicated...
We have information that next year Fed will increase the interest rate on 50 basis points. (this one is the most important)
Last Friday US released the latest fundamental data which pushed XAU on its resistance point and everybody who had the access to CFD platforms started to long gold with leverage with TP 1820 (minimum). The market is aware of that so Monday morning they've pushed gold lower to kill all traders (my opinion). Since It confirmed below the Ichimoku cloud even on a Daily timeframe it started to look down....
Along with my small brain, I believe that gold shall make a double top before it will go down... and I don't see any reason for gold going down in this period.
The downtrend will start next year but no chance for us to see it in the near future...
My personal position is the only long and part of them I will close at 1820 and rest of it I will keep till the end of this year...
This is my personal view of gold... I kindly ask Toxic and "Smart" people to stay aside...
I don't want to make things complicated...
We have information that next year Fed will increase the interest rate on 50 basis points. (this one is the most important)
Last Friday US released the latest fundamental data which pushed XAU on its resistance point and everybody who had the access to CFD platforms started to long gold with leverage with TP 1820 (minimum). The market is aware of that so Monday morning they've pushed gold lower to kill all traders (my opinion). Since It confirmed below the Ichimoku cloud even on a Daily timeframe it started to look down....
Along with my small brain, I believe that gold shall make a double top before it will go down... and I don't see any reason for gold going down in this period.
The downtrend will start next year but no chance for us to see it in the near future...
My personal position is the only long and part of them I will close at 1820 and rest of it I will keep till the end of this year...
This is my personal view of gold... I kindly ask Toxic and "Smart" people to stay aside...