GOLD Sellers are Dominating

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

Gold sellers are dominating. Last 3 months selling on rallies was the dominant strategy for positional intraday traders. Occasional longs are possible only with the strict time frames such as 15m.

W H4 and 78.6 are making a confluence close to the previous top. 1919-1922 is the POC zone where we might expect sellers to react. If the market gets higher above 1934 then sellers will be in trouble. I expect rejections off 1911-13 zone and 1919-22 zone. Targets are 1892 and 1882.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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