Hi abdullah76, NO, i don't mean sell or buy from now. This setup is not a yet an entry trade, i have to wait if price will go to one or other PRZ (Potential Reversal Zone) and see any Price Action before changing this idea in active trade.
So patience...
Abdullah76
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Thanks alot
tolanir
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Wonderful insight and idea. Thank you
pixi
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you're welcome
UnknownUnicorn163516
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Pixi, thank you for your idea. Do you think rate hike will make Gold falling or not?
pixi
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hi FreshOilTrader,
As i said, if market is reacting logically, yes, gold should fall (like any pair in USD, imho)
But remember, in december 2015 when the first rate hike was decided, gold took 30% upward. Logic ? not really.
So, i don't care if hike or not hike.
In my chart you could invert "HIKE" and "NO hike" because i'm a "fibo/harmonic" trader and not a Fundamental trader.
But, in all cases, this event could be a good opportunity for any kind of reversal (up or down)
UnknownUnicorn163516
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Thank you, Pixi! I see your market understanding is really deep. Excellent feeling of future moving. I fully agree with you that such oftern movements is really unlogical. Will see. I would like also to show you my trading plan. goo.gl/khcP39
pixi
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You're welcome.
Regarding your trading plan, preference goes to your dashed orange line ;). Nice. (i have 1275$ for a likely bottom in short term )
UnknownUnicorn163516
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Pixi, there is such DSI (Daily Sentiment Index) which is good indicator sometimes as is shows crowd behavior. As I know it is just 20-25% Bulls now in a crowd, the reason to be super carefully with the shorts.