GOLD is looking nice here for a potential intraday long - if you first look on the right at the LTF we can identify how price on the London open took out the floor taking out buyers stops and inducing sells into the market, however price has bounced firmly off the next 4H support zone i believe this move lower today was a trap to engineer liquidity above so the market can make a relief correction. We can also identify the descending trendline on the LTF in which there will be a huge amount of sellers Stops above. Monitoring the LTF for potential entry confirmations AFTER the 4H close.
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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.