Gold - Pullback?

2 juin

Gold is one of the most hyped trading instrument of 2024. With all geopolitics going on I am very bullish of GOLD. I dare to say we can 10x from here when the current financial fiat system collapse as it will at some point. Yes I said it ;-). But let's not listen to me let's look at what the technicals say right now. I believe we will have a pullback coming.

Technicals
→ We created a double top
→ Week prior we created an engulfing weekly candle which the body encapsulated the weekly candle before. Although last weekly we saw a doji I still think we can drop soon.
→ Monthly we didn't have enough volume to close engulfing. We didn't even close past 50% of that wick
→ We broke the trendline.
→ We are creating a bear flag on the daily.

Trade
→ We can go to first zone and bounce back up like the first play say
→ I believe second play is most likely. I see a major support there.
→ 3rd play is the play when whenever price goes there anticipate a HEAVY support.

Your trading friend,

Simba Trades

2 juin

Note

With the correct logo now ;-)

9 juin

Note

Outlook is still bearish. Looking for shorts next week.

7 juil.

Note

Scenario 1 has played out no bearish bias for short term