Timing Gold's Intraday Reversal توقيت إنعكاسات الذهب
Here is an example from today's trading, setting up our Whatsapp Broadcast Group members with written, voice and chart notes pre-US data. Once the data were released 8:30 & 10:00 Eastern time (13:30 & 15:00 London), we followed-up by guiding members on gold's likely reaction as well at which point the reversal would start (we missed the timing by 30 mins today). The WBG does not only rely on intramarket technicals to trade FX, metals and indices, but also takes a dive into intraday flows, when conditions are suitable--like today, yesterday and Wednesday (see the 30-mins chart inside the WBG chat).
Another data point pointing to gold going lower: the recent rally in spot gold price was NOT accompanied by an increase in the gold holdings of GLD. When that happens, gold rally is unsustainable, and price heads lower.
All the best,
NewMan
THANKS AGAIN, Newman.
(Have your book and bookmarked your on-line workbook, but haven't had the time yet to study them. So when it comes to the "Wisdom of Ashraf" I am still, unfortunately, flying blind.)
All the best,
Newman
Minneapolis, MN, U.S.