XAUUSD CPI Setup 13.09
Updated
Price is correcting right now and this can be easily recognised by the choppy channel.
I am expecting today CPI to give the start of the true direction, after clear some liquidity. The true direction is down for now.
Fundamentally speaking, gold should go down, because of the hike of the interest rates ( coming soon) and Yields, more here:
https://www.tradingview.com/chart/MAN_PMI/wtjvv9cB-Deep-Qualitative-Fundamental-Analysis-of-US-Economy/
Latest COT Report show, that professional traders are preparing to sell gold by adding more sell setups.
So I have few confirmations, that gold should melt very soon.
If CPI is higher than expected, sell gold.
If CPI is lower or the same, wait for clear direction.
Enter on smaller time frames (1m, 5m) only if you see strong manipulation to the down side in the marked zones.
I am expecting today CPI to give the start of the true direction, after clear some liquidity. The true direction is down for now.
Fundamentally speaking, gold should go down, because of the hike of the interest rates ( coming soon) and Yields, more here:
https://www.tradingview.com/chart/MAN_PMI/wtjvv9cB-Deep-Qualitative-Fundamental-Analysis-of-US-Economy/
Latest COT Report show, that professional traders are preparing to sell gold by adding more sell setups.
So I have few confirmations, that gold should melt very soon.
If CPI is higher than expected, sell gold.
If CPI is lower or the same, wait for clear direction.
Enter on smaller time frames (1m, 5m) only if you see strong manipulation to the down side in the marked zones.
Trade active
CPI was higher then expected and gold went down. I was expecting fake out before the sell, but this movement also is OK.Higher then last time, means that FED have to increase the Interest Rates a lot, may be even higher than 75bp.
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