From the Technical Views:
1. From the daily point of view, price is moving inside between the daily resistance zone and support zone, if the price will not able to break below/above, GOLD will continue moving inside this range and starting consolidation phase.
From the Institutional's Views:
1. Overall bullish bias on GOLD in the longer-term of view.
2. But in the new data, 6.8k of the long positions were closed and 1.8k of short positions were closed, which means they are starting to profit-taking, but closing short means they are not interested in short on GOLD at the moment, that's why we are sitting inside the consolidation phase.
How to approach GOLD?
1. Waiting for the price break out the ranging market either above or below.
2. After that, switch to the lower timeframe to find the long/short opportunity, if your rules of the strategy are fulfilled.
3. Trading inside the ranging market is not a good idea, because most of the time, manipulation will arise in the ranging market.
The result might not follow my analysis, this analysis is according to the TA & COT perspectives.
Comment down below and let me know your view on GOLD.
1. From the daily point of view, price is moving inside between the daily resistance zone and support zone, if the price will not able to break below/above, GOLD will continue moving inside this range and starting consolidation phase.
From the Institutional's Views:
1. Overall bullish bias on GOLD in the longer-term of view.
2. But in the new data, 6.8k of the long positions were closed and 1.8k of short positions were closed, which means they are starting to profit-taking, but closing short means they are not interested in short on GOLD at the moment, that's why we are sitting inside the consolidation phase.
How to approach GOLD?
1. Waiting for the price break out the ranging market either above or below.
2. After that, switch to the lower timeframe to find the long/short opportunity, if your rules of the strategy are fulfilled.
3. Trading inside the ranging market is not a good idea, because most of the time, manipulation will arise in the ranging market.
The result might not follow my analysis, this analysis is according to the TA & COT perspectives.
Comment down below and let me know your view on GOLD.
Aviso legal
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