From the Technical Views:
1. From the weekly perspective, price is moving to the upside aggressively without any proper retracement, we can expect the deeper retracement to the at least 32.8 FIB level as shown on the chart as "Weekly Target" (32.8 is taken from the Weekly FIB).
2. From the daily perspective, we have the same situation with the weekly view, price is moving to the upside without any retracement, we still can expect a retracement to at least 32.8 FIB level as shown on the chart as "DailyTarget"(32.8 is taken from the Daily FIB).
From the fundamental views:
1. Big players already taking profit on the gold and start selling the gold at the moment.
2. Because in the new report, they are closing around 21k of the long positions and open another 7.9k of the short positions on the gold, we can expect some weakness arise on the gold as we want to see the deeper retracement on the daily and weekly perspectives.
How to approach GOLD?
1. Waiting for the market shift to the bearish market from the bullish market on the lower timeframe perspectives.
2. Once the market becomes a bearish market, you can look for a short opportunity if your rules of the strategy are fulfilled and targeting the 32.8 level either daily/weekly.
3. Just simply short at the current price is not a good idea, because a lower timeframe still indicate bullish market, the market still forming HH and HL at the moment it can easily move the upside aggressively again.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on GOLD or which pairs you would like to me analyze in the future.
1. From the weekly perspective, price is moving to the upside aggressively without any proper retracement, we can expect the deeper retracement to the at least 32.8 FIB level as shown on the chart as "Weekly Target" (32.8 is taken from the Weekly FIB).
2. From the daily perspective, we have the same situation with the weekly view, price is moving to the upside without any retracement, we still can expect a retracement to at least 32.8 FIB level as shown on the chart as "DailyTarget"(32.8 is taken from the Daily FIB).
From the fundamental views:
1. Big players already taking profit on the gold and start selling the gold at the moment.
2. Because in the new report, they are closing around 21k of the long positions and open another 7.9k of the short positions on the gold, we can expect some weakness arise on the gold as we want to see the deeper retracement on the daily and weekly perspectives.
How to approach GOLD?
1. Waiting for the market shift to the bearish market from the bullish market on the lower timeframe perspectives.
2. Once the market becomes a bearish market, you can look for a short opportunity if your rules of the strategy are fulfilled and targeting the 32.8 level either daily/weekly.
3. Just simply short at the current price is not a good idea, because a lower timeframe still indicate bullish market, the market still forming HH and HL at the moment it can easily move the upside aggressively again.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on GOLD or which pairs you would like to me analyze in the future.