Gold - Different Approach

26 thg 8, 2020

I urge you to take a second look at gold as this could be the potential next move. I was very obvious that gold created a supportive area where price began consolidating, many people would have looked at this area and saw a ranging area at a supportive zone, they would have gone ahead and placed there buys. If you would have placed there SL's like the majority of people do they would have been stopped out with the first spike marked in the box. Buyers furious that this happened would have placed another buy once the price was back at the desired zone only to be stopped out once again at the marked box 2. This may have now created enough liquidity for the banks to really drive the price where they want, which in my view is to the upside.

This is simply my opinion on the XAUUSD, but its definitely a thought you should consider. We don't personally trade it due to the heavy manipulation.

IG Client Sentiment Gold - 79% Long
According to COT Data source - 52% Long