Gold has broken structure to the downside, and returned to the OB that impulsed down. It maintained the high of the OB, and dropped. This indicates price is maintaining the bearish momentum.
Now, price has formed a bearish OB, and presents two scenarios for opportunities.
Check them out with me.
Are you going long or looking for shorts? Leave me a comment on your bias with Gold!
Thanks for your support.
Don't forget to LIKE if you find my analysis beneficial, and want to see more.
Now, price has formed a bearish OB, and presents two scenarios for opportunities.
Check them out with me.
Are you going long or looking for shorts? Leave me a comment on your bias with Gold!
Thanks for your support.
Don't forget to LIKE if you find my analysis beneficial, and want to see more.
Note
My idea is about to become invalid.
USD is weakened, and allowing gold, majors and indices to push higher.
News may impact this momentum. Be careful. 8:30 EDT.
Note
Price maintained the 12H OB, never breaking that high. Sells were good for Gold.
Came very close, but the OB held.
The idea is still valid, and I hope some of you benefited.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.