GOLD update December 21

in Account Booster 👍3 years ago

Remember - This is Holidays week, low volume, high spreads, crazy volatility and manipulation.

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Yesterdays post -
https://steemit.com/hive-119463/@mycryptostalker/gold-failed-to-create-support-on-previous-expected-area

Before trading week started post
https://steemit.com/hive-119463/@mycryptostalker/gold-trading-week-51-december-20-24

First and as always we need to take a look at our clean naked chart... what does it tell us? what can you read from the PA?

image.png

As I see it, we are right now at a key level in price. Previous 4hr candle had a nice wick to the downside and got rejected.
But can we expect deeper continuation?
During London session we had a nice retrace to test the 1800 psychological level and then a great engulfing bearish candle when NY session started.
If we see the 1 hr chart... how would I have played the movement (I didn't because I wasn't at the charts)

image.png

I expect now range until asian open, a retrace to the upside during Asian and then continuation drop in London.
Tomorrow is Wednesday and I the charts will behave like last week, then the price will be pushed to the downside and before NY open we will see a support created and then maybe we can have that push that will go above 1800 and continue all week to test previous highs.

image.png

But this isn't certain until the PA confirms what we are expecting. We can even have a deeper push during NY and see support until Thursday and well, we all know that Friday there won't be enough volume to "defend" against any manipulative push. So be really careful I you want to be on the charts and do any play.

THIS IS NOT FINANCIAL ADVICE OR SUGGESTED TRADE.
DO YOUR OWN RESEARCH.
THIS IS ONLY A JOURNAL FOR MY USE OF MY TRADING IDEAS AND PROVE MY SETUPS.
IMPORTANT!!! ALWAYS USE STOP LOSS AND REMEMBER THAT LEVERAGED MARKETS ARE RISKY AND YOU CAN LOOSE ALL YOUR MONEY. NEVER INVEST WHAT YOU CAN’T AFFORD TO LOOSE.

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