The market has a bearish trend in higher timeframes, which is expected to continue. The inflation news that will come out today can impact the market and may even push the market to our entry-level price. However, I will not make impulsive decisions based on my emotions and will wait for further confirmation before taking action.
The reasons for this trade have...
The gold market can experience sudden price hikes due to fundamental situations. If the war situation remains stable, there might be a possibility of some corrections in gold prices from a technical point of view. However, it is essential to note that trading against the market trend can be risky.
I opened this trade because of the reasons explained in the chart...
Weekly and daily charts show that , Nasdaq is in downtrend and the cross between daily order block and my favorite fibo levels creates a good situation to take short position.
🔴 notice that I will open the position if market shows reversal sign in lower timeframes.
we are approaching to crypto season but I think, before the big rally, the market needs some liquidity and fear.
I would really like jumping to the market as soon as total goes under 1T💵
NFA
DYOR
After retail sales come in stronger due to climbing wages and other strong data from the US I expect that the Dollar index will get momentum, and show strength a couple of weeks ahead
I think that gold's market will see lower prices this week and seeks a bigger liquidity to change the trend.
in my opinion the last up move was just a buy side liquidity grab to continue the downtrend and the trend isn't change yet
