The Gamblers strategy
taking a look at the gold chart, we can say that the market is in a semi uptrend position.
trade has been analysed and then we have come up with the following results.
always remember that the market will do what you want, but not when you want it, that is why timing and precision is a very important part of this game.
first, the technical indicators being used in this analysis are
1. volume: there is a saying that the old ones says, that it takes lots of great power to move an boulder up a hill.
gold has been trading in a range zone for a period of 3 years. we had a double bottom which was broken at 1678 on Nov, despite the break out, volume didn't acknowledge the break out,
trade surged in its ferocious glory and hit its all time resistance at 2070(this has been a zone of terrible resistance for a while now. being rejected on March 2022. despite the up rally, volume has actually been diminished, which shows that the possibility of a trend reversal can easily happen at this point, or we get a false break out( N:B- if trade doesn't reverse and trade goes out, and breaks accordingly, don't go short\, follow the trend and ignore this post, because this is an educational post. always remember the trends Are your friends, and you should learn to sail with the tides)
2. Graph Analysis: zooming closer, we can see that a small top formation is already forming, which can lead to a drop towards the 1900 region. remember that trade can decide not to reach that region and go higher, always trade with a stop loss to minimise losses as nothing is sure in this life.
trade close below the almighty resistance zone 1998, which has shown to trigger a downside.
trade can move and bounce within that region for a while before going down.
3. RSI: taking a good look at the rei, we can see a divergence in the psi. Rsi stopped moving and formed a consolidation, while trade surged higher, which is a very dangerous sign.
Conclusion: trade can revisit the 1900 Zone, as there is still lots of support below it.
Happy Trading
taking a look at the gold chart, we can say that the market is in a semi uptrend position.
trade has been analysed and then we have come up with the following results.
always remember that the market will do what you want, but not when you want it, that is why timing and precision is a very important part of this game.
first, the technical indicators being used in this analysis are
1. volume: there is a saying that the old ones says, that it takes lots of great power to move an boulder up a hill.
gold has been trading in a range zone for a period of 3 years. we had a double bottom which was broken at 1678 on Nov, despite the break out, volume didn't acknowledge the break out,
trade surged in its ferocious glory and hit its all time resistance at 2070(this has been a zone of terrible resistance for a while now. being rejected on March 2022. despite the up rally, volume has actually been diminished, which shows that the possibility of a trend reversal can easily happen at this point, or we get a false break out( N:B- if trade doesn't reverse and trade goes out, and breaks accordingly, don't go short\, follow the trend and ignore this post, because this is an educational post. always remember the trends Are your friends, and you should learn to sail with the tides)
2. Graph Analysis: zooming closer, we can see that a small top formation is already forming, which can lead to a drop towards the 1900 region. remember that trade can decide not to reach that region and go higher, always trade with a stop loss to minimise losses as nothing is sure in this life.
trade close below the almighty resistance zone 1998, which has shown to trigger a downside.
trade can move and bounce within that region for a while before going down.
3. RSI: taking a good look at the rei, we can see a divergence in the psi. Rsi stopped moving and formed a consolidation, while trade surged higher, which is a very dangerous sign.
Conclusion: trade can revisit the 1900 Zone, as there is still lots of support below it.
Happy Trading