Gold had probably finished it’s active phase of accumulation and has a chance of locking in a consolidation, here’s why:
Volatility (ATR) on the daily chart had reached the long-term peak: usually it points to a market ending the active phase of the rally.
The net position of commercial traders from the COT report has been reaching new peaks on a week-to-week basis. Usually, that is associated with the declining price: the continuation of a price trend is unlikely in such circumstances, at least immediately.
From 25-year seasonal studies, Gold has completed the seasonal window of growth, and has a chance of being locked in a consolidation.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
Volatility (ATR) on the daily chart had reached the long-term peak: usually it points to a market ending the active phase of the rally.
The net position of commercial traders from the COT report has been reaching new peaks on a week-to-week basis. Usually, that is associated with the declining price: the continuation of a price trend is unlikely in such circumstances, at least immediately.
From 25-year seasonal studies, Gold has completed the seasonal window of growth, and has a chance of being locked in a consolidation.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.