Behavioral Analysis Trading | Gold – Accumulation in Progress?
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Since the sell-down from the distribution supply zone, which was triggered by the 2B short I posted in the Synapse Network forum, price has been pushed down to the support zone, where the next likely behaviour is to accumulate. This has manifested in a long-tailed pin-bar, a result of professional stop-hunting. I am not too concerned about its exact shape or pattern, as the key idea here is the underlying psychology.
Having flushed out the weak holders, I have taken a long position to catch any upside swing to the targeted zone above. There will be FOMC and NFP later this week, so much volatility is expected. Trade with care, and trade with understanding. Good luck!
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Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.
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