The past week we've seen a huge pump on Gold, which hasn't come as a surprise when you consider we just closed the month of August. As most of August market was bearish, institutions start profit taking around $1,900's & closing their sells, which led to Gold retracing back up.
However, Gold is still below our invalidation zone of $1,955 so we are still holding on, as market could head back lower again. If our invalidation zone is hit, we'll be taken out the markets with profits either way. We'll re-assess markets around $1,970 - $1,960 to see if price action offers another sell opportunity from higher pricesđ
However, Gold is still below our invalidation zone of $1,955 so we are still holding on, as market could head back lower again. If our invalidation zone is hit, we'll be taken out the markets with profits either way. We'll re-assess markets around $1,970 - $1,960 to see if price action offers another sell opportunity from higher pricesđ
