Looking at the Weekly chart we can see that is in a bearish TIME Cycle that probably will last
for another3 or 4 weeks where it will move sideways or drop to the 3185 area to pick up liquidity pause bounce and continue lower until it completes its bearish Cycle.
Now if we see it from the Daily pov , we have some negative events.
1- Is printing lower highs and lower lows
2- Is fighting to hold above its Zero Line.
3- Its 4hrs tf is in a downtrend move .
So looking at those events taking place on the Daily within a Weekly Bearish TIME Cycle We should expect to keep printing Lower Highs and Lower Lows at least for the next 3 weeks.
Once Bears are done we'll take another look.
Note: When I say is in a Bearish TIME Cycle, it doesn't mean that it will drop straight down what it means is that is in a period of TIME where it will do one of 2 things, either will move sideways or drop and when in Bullish TIME Cycle is sideways or UP.
Right now GOLD is a Weekly Bearish TIME Cycle.
for another3 or 4 weeks where it will move sideways or drop to the 3185 area to pick up liquidity pause bounce and continue lower until it completes its bearish Cycle.
Now if we see it from the Daily pov , we have some negative events.
1- Is printing lower highs and lower lows
2- Is fighting to hold above its Zero Line.
3- Its 4hrs tf is in a downtrend move .
So looking at those events taking place on the Daily within a Weekly Bearish TIME Cycle We should expect to keep printing Lower Highs and Lower Lows at least for the next 3 weeks.
Once Bears are done we'll take another look.
Note: When I say is in a Bearish TIME Cycle, it doesn't mean that it will drop straight down what it means is that is in a period of TIME where it will do one of 2 things, either will move sideways or drop and when in Bullish TIME Cycle is sideways or UP.
Right now GOLD is a Weekly Bearish TIME Cycle.
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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.
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.