1. Trend is down over year and half
2. TTM Squeeze that usually bounces off opposite wall before reversing
3. Hitting resistance trendline repeatedly
4. Under 200ema
I could see this ultimately hitting 200ema, which I would dump everything into going short, but this spot is good for a short as well. Always keep more dry powder and don't blow your load in one go!
2. TTM Squeeze that usually bounces off opposite wall before reversing
3. Hitting resistance trendline repeatedly
4. Under 200ema
I could see this ultimately hitting 200ema, which I would dump everything into going short, but this spot is good for a short as well. Always keep more dry powder and don't blow your load in one go!
Comment:
Monthly TTM Squeeze is breaking out. Monthly PA bounced off the opposite wall, and now it's retracing its breakdown before descending much further. Beware!
Monthly TTM Squeeze is breaking out. Monthly PA bounced off the opposite wall, and now it's retracing its breakdown before descending much further. Beware!
Comment:
Weekly shows TTM Squeeze is building so that may delay the move a week or two. And it's common for PA to bounce off the opposite side of the trend which lasts around 4 bars, so we could have around 5-6 weeks before we see the final descent. This means we will see some news hit the dollar hard, letting gold rocket up a little before reversing hard on some extraneous news.
So 5-6 weeks might be the perfect time to start building a short position if you're averaging in.
Look to an event to happen in January to key off this move.
Weekly shows TTM Squeeze is building so that may delay the move a week or two. And it's common for PA to bounce off the opposite side of the trend which lasts around 4 bars, so we could have around 5-6 weeks before we see the final descent. This means we will see some news hit the dollar hard, letting gold rocket up a little before reversing hard on some extraneous news.
So 5-6 weeks might be the perfect time to start building a short position if you're averaging in.
Look to an event to happen in January to key off this move.
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