panic sell off just as planned now we should see a good size rally in coming days/weeks. risk/reward suggest a short term rebound very likely..
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in a panic sell off, pplz usually forced to sell at the bottom.. just like what we are witnessing today...
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reminder: the dead cat bounce should see 1820.. but i am expecting one last leg down after the bounce
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but if gold can rally post 1850, then the probability of a last leg down will diminish.. so best to keep a core position and then trade from level to level..
is the analysis consistent with the DXY analysis ?
TruKING852
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@HasanB90, DXY is a mirror image to gold. so by definition, my expectation for DXY is bearish medium term. Short term it's bullish due to tapering concern.