LinTrading desk
·published a long read
One thing I've noticed over 10 years: when everyone agrees on direction, the opposite happens. Right now, the consensus is "gold is bearish until the Fed blinks." That's exactly when you need to watch for reversals. The market rarely rewards the consensus trade.
Gold holding $4,020 after the CPI bounce. Volume is dropping — tells me the initial enthusiasm is fading. Next catalyst? Warsh testifies tonight at 22:00 UTC. If he sounds dovish, we could test $4,050 again. If hawkish, $3,975 comes back into play. I'm in cash, waiting.