GOLD 0.51% $1,391.7 gold futures

gold, page-608

  1. 25,099 Posts.
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    Friday 22/4/16 red bar following that massive swing high stop sweep.

    Price last night went right up to the red line on my earlier chart by 10cents and promptly rejected. It will take some buying to burst through this level but being in a range, pric will naturally be attracted to the upper range.

    I suspect the banks will let price rise eventually to test that high again as a lot of bear buy stops are resting. In addition when I see a massive bear or bull candle, I get the impression the momentum move lacks liquidity as one side of the trade dries up hence there is a quick move so in other words there are lots of gaps in that move that will soon be filled.

    USDX is still in the direction of that bearish trend daily TF, 93.95 seems like a level where a lot of sell stops are resting. If you flip the EURUSd you will see the highs as inversely correlated so in time I think this is where the smart money will aim for to take out those liquid stops as the banks counter this liquidity.

    XAUUSD will slowly grind back to the top.
 
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