Price is reaching a trend line that is descending and i am watching the positions of retail slowly become more and more bullish.
I want you to take a look at the above image and realize that price has rallied from an institutional demand area in the 1820's. This buying was instigated by the banks and was forecasted by us as well.
The above is our tweet outlining the move up that was about to take place.
What is important to know about this rally is that i believe it was put into play before the middle eat conflict began as a way to lure retail traders into going long. Now I know that is a big claim but hear me out.
I've been studying price action, the banks positions and retail moves for many years now and i have been paying close attention to their relationships and I have discovered some remarkable things.
So now we have #gold reaching a trend line that is descending and i am watching the positions of retail slowly become more and more bullish.
This is how their positions stand as of now, 37% long. Yes this isn't a big number but longs were much lower last week. Now why are retail going long #gold at this point?
Let's examine some of the 📰 headlines that are out there right now.
This is one of the main reasons I believe the retail traders are entering long at this moment. What I see coming is the long percentages are going to climb higher towards the end of the week and soon retail will be maxed out on the long positions and as this takes place price will likely decline. This may take long heading into next week also. regardless of timing this is what i am watching for.
⚠️ Let this be a warning to you if you trade #GOLD. Stay tuned as we keep you posted on this story.