⚡ Friday Gold setup (PRE-NFP)
Levels, bias, three trades
THE BIG PICTURE
The 4,501 to 4,764 recovery is a technically real.
But it happened on net ETF outflows and against the most hawkish rate-environment we've had all year. . So the engine of the move was short covering and dollar weakness rather than fundamental investment demand.
That matters because short covering unwinds faster than institutional buying.
MY BIAS TODAY
MY BIAS: 🟡 Tactically cautious. Short-biased on rallies. Not the day for swing conviction.
Translated into what I’ll actually do at the desk: sell rallies into resistance, buy support only with strong confirmation, no positions over the weekend.
What flips the bias:
🟢 To bullish:
