I see gold reaching like 1650 except some crazy US news comes out. Gold was already on a massive downtrend. But today just confirmed it. It was really confirmed when gold blasted past this support line a couple days ago...but then after powell speech, she slowly came up and then retested it to the T with an insane wick.
That wick also too out a lot of seller liquidity that was gathered in that area....and then she popped out with a massive 4hr meribosu! As we know, Sundays weird things happen in the market. So I am in no hurry. However, I have my fib drawn on from the move today and I am waiting for a nice retracement to get in a long term sell of gold.
I expect, she will cross 1850 and then retest that area. Ill probably get in again when this happens. The next support will be 1800 which is a strong low from the past. Maybe some consolidation here. If she crosses this and keeps going, chances are the 50/200ema on the daily would've crossed at that point...so ill be looking all the way down. Its not that crazy for gold to be that low...It was there like last year. BIG OPPORTUNITIES LETS GO!!
That wick also too out a lot of seller liquidity that was gathered in that area....and then she popped out with a massive 4hr meribosu! As we know, Sundays weird things happen in the market. So I am in no hurry. However, I have my fib drawn on from the move today and I am waiting for a nice retracement to get in a long term sell of gold.
I expect, she will cross 1850 and then retest that area. Ill probably get in again when this happens. The next support will be 1800 which is a strong low from the past. Maybe some consolidation here. If she crosses this and keeps going, chances are the 50/200ema on the daily would've crossed at that point...so ill be looking all the way down. Its not that crazy for gold to be that low...It was there like last year. BIG OPPORTUNITIES LETS GO!!