Gold on the daily has just been shooting up, if we held those buys we had a week or 2 ago sheeshh, but now we are looking for areas where we could see rejection, and i found this IT candle right above some equal highs, where we have confluence with imbalance on 4HR in that area, so this is a high probability area we could potentially see distribution to then take it to the downside to fill all this imbalance we have created on this massive move up, we also have some areas for buy opp. on lower times where we could see the sell possibly go to where we will update with later.
Note
UPDATE: So we see we had a nice rejection off that area of imbalance right when markets swept the highs so now we could be anticipating redistrubution before we then continue down, so if the evidence lines up then we could have a possible play tomorrow for the sell to then buy in either the first area i have with the Fib, or the second one below, so we will see what market does tonight into the NY session see if we can catch a snipe
Note
So we see gold has been rallying up to our point of interest we have been looking at and we could end up seeing a move into there around London session so I will be putting an alert around that area and see if we can get the proper evidence, signs of distribution on the lower time frames.
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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.