Sniper Entry for next big move on Gold!
UPDATE to previous call where we caught a monster move short on Gold!
Currently waiting to see where we break out of this wedge forming. No news by Thanksgiving in the US, gold moves up. Any good news (location for signing, full draft ready etc) will be looking to short off the 'hook' as it breaks down from the wedge.
Fundamentals
- Market is waiting on new news regarding the Phase One trade deal being signed
- No date or location confirmed yet, market anxious -> causing gold to pause on its downward movement and form a wedge.
- Markets lately have been leaning to the optimistic side, rather than having a bearish bias (reacting stronger to bad news) hence we are not seeing a big move up currently on no news (uncertainty is bad) and rather a consolidation wedge until Thanksgiving or some new significant news.
Currently waiting to see where we break out of this wedge forming. No news by Thanksgiving in the US, gold moves up. Any good news (location for signing, full draft ready etc) will be looking to short off the 'hook' as it breaks down from the wedge.
Fundamentals
- Market is waiting on new news regarding the Phase One trade deal being signed
- No date or location confirmed yet, market anxious -> causing gold to pause on its downward movement and form a wedge.
- Markets lately have been leaning to the optimistic side, rather than having a bearish bias (reacting stronger to bad news) hence we are not seeing a big move up currently on no news (uncertainty is bad) and rather a consolidation wedge until Thanksgiving or some new significant news.
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