- Majority of traders are still holding onto Shorts. This means we should continue to Buy XAUUSD.
- Analyzing the positions ratio, we see that most traders are currently in Shorts, which also combines with the original idea.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous peak. This is a good level for placing take profit according to our forecast.
Chart & Analyst Comments
