Gold macro trend is short.
Hello? Today, let's look at why I'm keeping a close eye on gold short positions and break it down clearly from a higher timeframe perspective. I usually prefer focusing on bigger timeframes rather than messy lower-tf scalping. So, I've firmly concluded that the gold trend is short, and I plan to look for short entries every time it bounces up. I'll lay out my reasons for betting on a short based on the 20-period moving average. Charts don't need to be complicated—just watching a single moving average properly gives you all the answers. Shall we start with the daily chart? See how it had a clean retest of the 20 MA and then dropped straight down? It's way too early to call the drop over, considering it hasn't even retraced half of that massive previous bear candle. That just shows the momentum is completely gone. Next up is the 3-day chart. Here too, the candles have completely dipped below the 20 MA, and even the 120 MA—which used to hold strong support—is...