I have three confluences that support my top-down analysis from the weekly chart scaling in all the way to the 1 minute chart. I see The previous trend was a bullish upend, the current trend is bearish. The "Death Cross" (50 EMA cross downward to the 200 EMA ) confirms the analysis. Also, DXY (Dollar Index) is bullish. Gold trades opposite of DXY. Dxy broke a key resistance. i can get technical and go on and on but I like to keep things simple. As the billionaire investor and mentor of warren buffet, Benjamin Graham quoted... "Trade current price do not speculate." No predictions!!!! Dont trade Against the trend!!!!
Oh yea and pray before you trade during and after :)
Sentiment=Bullish
Current Market= Bearish
Pro Tip: Trade against the crowd
Don't over think, it's soooooo simple and easyyyyyyy.
The hardest part about trading is realizing that its simple! -Firess Mitchell
God Bless you all!!!!!!
Oh yea and pray before you trade during and after :)
Sentiment=Bullish
Current Market= Bearish
Pro Tip: Trade against the crowd
Don't over think, it's soooooo simple and easyyyyyyy.
The hardest part about trading is realizing that its simple! -Firess Mitchell
God Bless you all!!!!!!