Based on the Commitments of Traders data reported on: February 18th 2020
📊 In the Markets: #GOLD is a still very strong. Long positions are at all-time highs. We’ve discussed this in the past and most importantly I have mentioned that since a higher timeframe supply was in play that it would take months for price to play out. We are still witnessing the beginning stages. We have to be patient here and wait for strong signs of a reversal; otherwise we can get hurt by trying to catch the top. Many traders are feeling a lot of pain right now with short positions going strongly against them. You have to know when to make moves and when to not make moves and with #gold at all-time highs we should not
be looking to get in long because we are expected things to shift downwards at some point but we don’t know when that point will come.
The #dollar showing great signs of the upwards momentum building, just as we have anticipated but we also have some new dynamics coming into play which we will discuss in to today’s LIVE analysis session. If you can make the session you should join in otherwise the session will be made available to members afterwards.
The #usdjpy broke up to the upside as we have anticipated and should it consolidate at the highs we could have some new signals presented for long trades. Waiting on this as the whole chart dynamic is in need of having obstacles broken through before we can get involved. Much patience required here otherwise you can easily find yourself in the realm of the traders under water at the moment. See you soon!
🎩 Magic Trader!
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