ridethepig | Gold in CNY

20 thg 9, 2020

📌 The struggle to claim 14,631 is notable. When studying the waves I came across similar a similar state of affairs in the earlier flows. The impulsive rally derives from its strong nature, not from itself but from much more the strategic concept of portfolio defence. A defensive move which is clearly crowded and starting to become a deer in the headlights could do with a push down to sharply shake out the late retailers who are attempting to eat off the march forward.

Here we started to load longs on the breakup of the 3rd wave, a momentum gambit which we will discuss further in detail over the coming weeks, sellers outpost was taken exposing the highs. The long-term flows into gold are made from sound fundamentals and common sense ideas, however, it does not mean we cannot attempt to outplay our opponents in the interim... before they get comfy for a good night's rest!

Thanks as usual for keeping the feedback coming 👍 or 👎