January 9th 2020 - Institutional 🏦 Market Observations 👉 #GOLD
The new year begins with a lot of market manipulation. We have Middle Eastern events causing retail traders to get suckered into buying #gold and #oil at the wrong time.
With respect to:
GOLD ~ We've know for many months now that the banks have been very bullish #gold as they added many long positions. We also know that they were reaching their maximum size that they allow so it was therefore becoming inevitable that they would need to lure traders into buying gold so they could sell it to them.
Where on the chart would they do this? We know where it would be and it's an area they we have had mapped out for a long time now.
How do we know this? True market dynamics suggest this to the the exact spot we'll see a drop form.
Gold has institutional long positions currently at 381k and this can not be sustained. Since the last major spike, bullish charts formations have been created that will entice many traders to buy on any pullbacks and this will help facilitate the exit of the banks longs. Therefore the 1600's is most likely the highs we'll see for now and it will all be about preparing for the downside from here on in.
TRADE ~ Will take advantage of this market dynamics by engaging in some short positions. Will take many weeks for the signal to present itself but it will and we will open our positions when it does so.