eurusd arrive to strong support and meet the median line
show me the money
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DislikedHi there,
I wrote "long gold for now" and I did too but I stopped out at b/e during fomc.I have not switch to short yet but at this level gold is a sell, reason is the classic div and extended move. UTL is around 1425.I will give gold a short during next week.Ignored
DislikedKiwi, double top in 1 hr chart, it seems a short term top is in place.Ignored
DislikedHi Marc,
Good point! I used net positions instead of COT index that you used. They are lightening their longs as you mentioned.It usually will follow by a decline in price which in this case not happened yet.IMO, the market is well overbought, classic Div and extended parabolic move, all indicating that a top is near but which level and when is anyone's guess.Ignored
DislikedHello Shahab,
I'm looking for a short term continuation in the pair and maybe a parabolic spike downwards. Here is what I'm talking about in the following pictures. I've attached a zoomed out perspective also so it would be easier to depict why the thick red lines can act as a resistance to the upward move. This is also my sell short zone. Great posts man.Ignored