Learning from the past / GOLD Futures
In today's post, we will see an example of a situation in the past in which the price reached the ALL-TIME HIGHS ZONE.
Main items:
a) The price tends to surpass the previous all-time high zone as we can see in the past, and as it's happening right now
b) After that, we observed an initial throwback (retest of the broken level)
c) This situation tends to be confusing because people will be expectant to the beginning of the new bullish impulse
d) However, the corrective structure on this area takes a considerable amount of time until a new bullish movement happens
e) Based on this our view on GOLD, Is to wait for a clear correction, once that occurs we will pay attention to the breakout so we can open positions
REMEMBER: This approach to trading is about looking at previous situations and waiting for them. If those situations don't happen, we look for other opportunities on other assets. But if they occur, you can be sure you are on a high-quality setup to take
Main items:
a) The price tends to surpass the previous all-time high zone as we can see in the past, and as it's happening right now
b) After that, we observed an initial throwback (retest of the broken level)
c) This situation tends to be confusing because people will be expectant to the beginning of the new bullish impulse
d) However, the corrective structure on this area takes a considerable amount of time until a new bullish movement happens
e) Based on this our view on GOLD, Is to wait for a clear correction, once that occurs we will pay attention to the breakout so we can open positions
REMEMBER: This approach to trading is about looking at previous situations and waiting for them. If those situations don't happen, we look for other opportunities on other assets. But if they occur, you can be sure you are on a high-quality setup to take
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