Well tomorrow we all get a surprise, THE NFP YEAAY! We all know it can't be possibly worse then last time (266K non farm employment change) and analysts are forecasting it at 645k. We got a daily fib close on 1870.29 which is way below every fibonacci level we would like to see. So my Bearish Bias overall didn't change! We will have a retest to 1888 because that is an important key level/pivot point and people will be prepared to buy gold for such an undervalued price (sarcasm). So I'm going to wait for a rejection around that level to start selling again. But Im going to close al my positions just before the NFP release and add some sells after when the NFP turns out better then expected and is indeed bullish for the dollar.
So a strong NFP means Imma Sell my Short-y.
Gold to 1839!
So a strong NFP means Imma Sell my Short-y.
Gold to 1839!