On Friday I sold gold sometime early in the US session at 1984.50. This sale is not covered by the risk-free space, that is, I realize that I am trading a pullback against the main movement and, accordingly, bear risks in this trade. At the moment, as you can see from the picture n-2n, KSO has moved to the bottom line, telling us that the lower limit of the near space has been reached and the price, in principle, can continue to move upward. But I believe that we will be dealing with a deeper pullback (n-6n) and that is why I took the risk of trading it. I will in no way argue or contradict the professor, but I see the 1968 level as a possible target, although as he said before, 1975 is also very strong.
Pay attention to the Ordinals... The short and medium term both show a pullback downward, while the long term indicates a clear downward move. The L-Ordinal reacts so sensitively to the slightest downward pullback due to the fact that the market is very overheated by this sharp upward surge and it is already very close to running out of steam.
These are my expectations. I hope that another war or something like that won’t break out over the weekend, which will significantly raise the price of gold. Once again, this is a trade “against the grain” and therefore I bear all responsibility for it for myself and in no case Orbit.
