My Mistake on Gold - Won't Happen Again
Hey guys - in full transparency, I messed up. If you see my last analysis on Gold (tradingview.com/chart/XAUUSD/EM5iNBUo-GET-READY-TO-GO-SHORT-ON-GOLD-FOLLOW-ME-TO-WIN-TRADES/) everything would have been great if I hadn't included the FAKEOUT into my trendline.
The reason I call this a fakeout is because if you look at the weekly chart, you'll see the peak created LONG wicks.
BUT... Moving on, we traders get things wrong sometimes...
I do predict Gold going short right now, down to 1788 - 1800 area. It has reached a major zone, and needs to correct, to at least 38%, and touch the bullish trendline. However, remember this is just a retracement. The REAL opportunity is in the BUY for Gold.
I am already in a short trade with TP around 1788 - 1800 area.
If you entered a short from my previous analysis and still in it, continue to hold the sell! For everyone whose trade hit SL, sorry! Will do better next time.
The reason I call this a fakeout is because if you look at the weekly chart, you'll see the peak created LONG wicks.
BUT... Moving on, we traders get things wrong sometimes...
I do predict Gold going short right now, down to 1788 - 1800 area. It has reached a major zone, and needs to correct, to at least 38%, and touch the bullish trendline. However, remember this is just a retracement. The REAL opportunity is in the BUY for Gold.
I am already in a short trade with TP around 1788 - 1800 area.
If you entered a short from my previous analysis and still in it, continue to hold the sell! For everyone whose trade hit SL, sorry! Will do better next time.
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