XAUUSD SHORT TP HIT

19 ago 2020

I placed a sell at the $2000 area on XAUUSD based on the overbought/overextended conditions and was only right that there was a correction my bias is still bullish long term but the $2000 is great resistance since its a round number and most bank and hedge funds like to enter at these round even numbers. Meeting minutes took place today as well i recently said on my DXY long buy that i was looking for good news as last NFP gave the greenback a boost. a survey was also took asking the biggest hedge fund & bank managers if they thought the market was in overbought conditions 31% said they believed it was which was the highest it had been since 2011. Also Scotia-bank settled for 127$ million dollars after spoofing gold and sliver prices which is a bad look for the company and for the precious metals market.