Gold update 09.02

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Following the price action pattern from the previous 3 days and few other confirmations that we will observe, I suggest that today will be bullish day.

1) Last few days we had strong bullish move during Asia and London and NY reversed.
2) Market is moving in a bullish channel, so the current market structure is bullish.
3) Days are with big wicks, but still they are bullish.
4) Gold left very obvious and big liquidity pool at the last high.
5) Most recent manipulation give us a clue that price will go up, at least for a while. - 4H and 1H manipulation.
6) Correlation with Silver - look the chart bellow
7) Correlation with Yields - look the chart bellow
8) Dont forget the massive gap that NFP left


Silver

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After the strong NFP move, Silver changed the angle of decline and moved in a bearish channel. This channel was recently broken and retested. Silver bounced back and in my opinion it will close the NFP imbalance.


Yields

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We all know the negative correlation between Yields and Gold.
It seems to me that Yields are going down. There is a lot of imbalance below the current price, right now Yields are reacting of a previous manipulation area.
On a smaller time frames (1H for example) Yields formed smt divergence, suggesting that they will reverse, at least for a while, but enough to give us a confirmation for today.
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Gold played out exactly as I suggested. Using the manipulation, with the team caught the waves.

Macroeconomics also helped us to manage the trades.

If you have any questions send me PM.
Trend Analysis

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