TradingView
0
All posts from TradingView
TradingView in TradingView,

Selling climax

Selling climax

GOLD FUTURES COMEX:GC1!

Last friday we saw another failed attempt from bulls to take over the market. The result was this daily shooting star candle, signaling the beginning of the downtrend. The 0,5 angle is now acting as resistance and next target is at least on the 0,382 angle below. My short signal is active on the weekly and daily, and even the monthly which I rarely look, is pointing towards the same downward momentum.
There is one important factor about timing that should not be neglected: next week: it's the beginning of the full moon. Note how many times there has been a selling spree during this period. During new moon, marrket tops and the next downward phase has its selling climax during the full moon.
Place your short, be gentle to wife/girlfriend and enjoy the week.