Fake Out./ Continuation of trend on the higher time frame.
Gold continuation after price created a fake out for price to retest the range lows notice after price failed to have the upside continuation because of that heavy resistance around the 1933 to 1935 area. Also Gold did the same play as gbp/jpy trade in the morning watch the previous analysis on gbp/jpy. Once the new 4hour candle has rejected the upside there's a huge chance of price retesting the previous body and continuing bearish. Also when price is re-entering the previous range after a fake out there's a chance of price retesting its range lows and vice versa when executing buys.
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.