My thoughts on Gold
Monthly: Overall trend is Bullish - has closed above prev high, will
create new highs before monthly closure (25 days)
Weekly: Trend is Bullish - week ended as a PB, could expect some selling pressure this week
Daily: Friday ended in consolidation, will need more liquidity to go higher
4hr: has completed M formation, beginning bullish phase
1hr: has broken and closed above prev high, will wait for new candles to form
Gameplan for trade:
1) wait for new candles to form. This will be
extra confirmation
Entry:
1h: for buys: will need a break and close above 2662, will need a FVG that holds and complete cross of EMA
5m: we have completed H & S, early buys will be possible but they are short term for now.
create new highs before monthly closure (25 days)
Weekly: Trend is Bullish - week ended as a PB, could expect some selling pressure this week
Daily: Friday ended in consolidation, will need more liquidity to go higher
4hr: has completed M formation, beginning bullish phase
1hr: has broken and closed above prev high, will wait for new candles to form
Gameplan for trade:
1) wait for new candles to form. This will be
extra confirmation
Entry:
1h: for buys: will need a break and close above 2662, will need a FVG that holds and complete cross of EMA
5m: we have completed H & S, early buys will be possible but they are short term for now.
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