Gold on March 28: I made a dangerous call

Gold on March 28: I made a dangerous call

Yesterday, March 28, 2024, I made a dangerous call. I say dangerous because I risk making myself look like a fool. So, I better explain what I meant with that call on the Gold market.

I have a very strong analysis supporting a potential Top on March 28, 2024, for the Gold market. Of course, I am not sure if my timing analysis is about to be perfect or not. I consider March 28 a make-or-break day for Gold, and going deeper with my proprietary analysis, I think that we have a high probability that this make-or-break day turns out to be a High. But making calls never leads to any profit or loss; we have to trade it! I plan to work with SHORT positions, but it does not mean that I blindly open a SHORT position and then I pray to be right! There is a precise plan behind that call to trade it. For example, first of all, I will not keep trying to work with SHORT positions if the Gold Futures price hits a new High after April 1 (and that is a very powerful thing by using a precise timing analysis). I wait for the Gold price to show me a price pattern, or a price confirmation that makes me trigger the trade, always ready to close it if the bearish pattern is broken then.

So, the good thing about all this is that I can focus my attention on a short period, I have a big potential to follow a downtrend lasting for weeks, risking relatively just very few points inside a 2-day time window.

A level I want to work with is 2.237 USD in the June 2024 Futures Contract, for example. I wait for a movement under it and a specific pattern to SHORT. It means that if the uptrend continues above 2.237 USD, I am not taking any SHORT position.

Well, we will see how it goes…

Gold - March 28, 2024 - Important Key Date

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