@Klein-Anleger After a quick glance, the picture is as follows.
In the weekly chart of the last 5 years, we are just below the POC at € 55.10 (a high-volume node with the highest volume in the last 5 years). It will be interesting to see whether this will establish itself as resistance for the time being, or whether this area will be broken upwards again immediately and act as support. The price is currently well below the 200 GLD, which stands at €80.94. In addition to the 200 GLD, the 50 GLD is also still pointing downwards, i.e. the downward trend is still intact, although the GLD, especially the 200 GLD, has a strong downward trend.
If the resistance at the POC can be broken through, it can quickly move back towards €60, where the next HighVolumeNode is located. With the next resistance at €79.35 https://www.tradingview.com/x/HdWTsoYe/
If it goes even further down, then the zone around €47-48 would be important, if it falls, then it can also quickly go down to €35, although I would rather expect a trend northwards https://www.tradingview.com/x/h3JCm48O/
In the weekly chart of the last 5 years, we are just below the POC at € 55.10 (a high-volume node with the highest volume in the last 5 years). It will be interesting to see whether this will establish itself as resistance for the time being, or whether this area will be broken upwards again immediately and act as support. The price is currently well below the 200 GLD, which stands at €80.94. In addition to the 200 GLD, the 50 GLD is also still pointing downwards, i.e. the downward trend is still intact, although the GLD, especially the 200 GLD, has a strong downward trend.
If the resistance at the POC can be broken through, it can quickly move back towards €60, where the next HighVolumeNode is located. With the next resistance at €79.35 https://www.tradingview.com/x/HdWTsoYe/
If it goes even further down, then the zone around €47-48 would be important, if it falls, then it can also quickly go down to €35, although I would rather expect a trend northwards https://www.tradingview.com/x/h3JCm48O/
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@TomTurboInvest Mega! Thank you very much for your quick reply! How do you assess the risk of going long here with leverage?
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•@StockAddict Well, I'm generally not a fan of leverage, but I do see better chances for a long trade than a short one. BUT, it's always about probabilities!
With leverage up to A**** if the 47€ are tested again.
With leverage up to A**** if the 47€ are tested again.
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@Klein-Anleger Disgusting 3-month candle - would wait a few weeks to see if a sideways trend establishes itself - the chance of this continuing downwards is too great imo
Edit: you don't have to be afraid of missing the entry with such sell-offs. Wait for a good structure, a good bottom, a breakout and then rather take the entry at the retrace - this is of course not 100% but much higher probability than going in directly at such sharp candles + you have clear invalidation zones can pull up your stop loss - increase your risk to reward and thus also your leverage without risking more.
Edit: you don't have to be afraid of missing the entry with such sell-offs. Wait for a good structure, a good bottom, a breakout and then rather take the entry at the retrace - this is of course not 100% but much higher probability than going in directly at such sharp candles + you have clear invalidation zones can pull up your stop loss - increase your risk to reward and thus also your leverage without risking more.
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