Gold| Daily supply zone will push the price down?
As we experienced last days gold was extremely bullish! and every trend will end.
Higher time frames ( D ) you can easily notice the bearish bias on XAUUSD . and the price is about reaching a high unmitigated supply zone that caused a break of structure before.
After this big move we can notice some imbalance that must be filled in the future ( 1747.363_1722.250)
Indicators? RSI is above 70. and also in the the low time frames we can see some regular bearish divergence.
Now, where we should enter?
We are going to wait the price reach the supply zone and wait for a confirmation such as break of structure.
Do you agree👍?
Higher time frames ( D ) you can easily notice the bearish bias on XAUUSD . and the price is about reaching a high unmitigated supply zone that caused a break of structure before.
After this big move we can notice some imbalance that must be filled in the future ( 1747.363_1722.250)
Indicators? RSI is above 70. and also in the the low time frames we can see some regular bearish divergence.
Now, where we should enter?
We are going to wait the price reach the supply zone and wait for a confirmation such as break of structure.
Do you agree👍?
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