Hey guys,
Gold is currently consolidating in a channel but what's interesting to notice, using the ichimoku cloud (which I use a lot in my trading ideas) is that price managed to break on M15/H1/H4 all its resistances.
On M15 the lagging span is above the previous price candlebars and managed to get above the 50% of the current formation.
We have a level of supply at around 1748, which is also the top of this current structure - it's a confluence area! So we should see some selling there.
Trade with care!
Cheers
Jesse
Gold is currently consolidating in a channel but what's interesting to notice, using the ichimoku cloud (which I use a lot in my trading ideas) is that price managed to break on M15/H1/H4 all its resistances.
On M15 the lagging span is above the previous price candlebars and managed to get above the 50% of the current formation.
We have a level of supply at around 1748, which is also the top of this current structure - it's a confluence area! So we should see some selling there.
Trade with care!
Cheers
Jesse
Note
Expecting gold to test 1750.40 level before it meets supply
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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.