BEAR TRAP?
As illustrated, I'm trying to visualize what a bear trap could look like if the ascending triangle structure holds as support.
There's a lot of uncertainty with the mixed news that came out, but I never really use news yet alone even trust them.
It is all a manipulation to engage algorithms based on metrics and key words in economic calendars / news.
Based on price action, we're at a very weird spot. There is a lot of bearish strength since Trump's election, yet with a very strong bullish rejection just above 2535 where price bounced in a weekly imbalance.
So the two sides of the story make sense in the short term.
Either way this up-and-down since the elections is building up a lot of liquidity to be taken toward DEC and the beginning of 2025 with what's expected to be a bullish year for gold.
--
GOOD LUCK!
There's a lot of uncertainty with the mixed news that came out, but I never really use news yet alone even trust them.
It is all a manipulation to engage algorithms based on metrics and key words in economic calendars / news.
Based on price action, we're at a very weird spot. There is a lot of bearish strength since Trump's election, yet with a very strong bullish rejection just above 2535 where price bounced in a weekly imbalance.
So the two sides of the story make sense in the short term.
Either way this up-and-down since the elections is building up a lot of liquidity to be taken toward DEC and the beginning of 2025 with what's expected to be a bullish year for gold.
--
GOOD LUCK!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.