Gold Headed Toward 2,000

1. Aug.

👉 $2,150 Is NOT the final target... I repeat, $2,150 is not the final target but is indeed a major support point...

Good evening my fellow Gold traders, I hope you are having a wonderful day.

If you are reading this, you might as well have because you are near the top.
The best time to sell is at the top or close to the top. At resistance.

➖ After producing a weak bounce, only five days in duration, XAUUSD is now proceeding to establish a lower high. A lower high at this point is extremely dangerous and indicates that the recent move was nothing more than a market move intended as a bull-trap. The bulls become trapped when they go long in a hurry and no real rise materializes. What is sure to materialize is a very strong correction.

Two main signals point toward a correction.

1) Golds market correction with Bitcoin and the Cryptocurrency market.
Bitcoin has been confirmed bearish for more than four months.
Bitcoin is set to crash. Knowing that Bitcoin and Gold have a positive correction indicates that Gold can soon follow what Bitcoin is already doing.

2) Bearish trading volume is huge. Bearish trading volume is the highest ever and continues to produce new highs daily. Bearish trading volume exceeds bullish trading volume. This is a strong signal.

I am keeping it all simple and basic because simple is best.
If we cannot grasp the meaning of certain signals we tend to make things complex and speculate as to the possibilities of what might happen. When we understand what is happening, we can explain it in a simple way.

Keep it simple: Gold is going down.
Strong down.

➖ Thank you for reading.
➖ Your support is appreciated.
➖ Thanks for coming back.
➖ We are here for the long-term.

Namaste.