XAU/USD 1H - To conclude my analysis this morning as you can see I am wanting to see weakness with the Gold spot. This again further backs our analysis to see strength in the Dollar this week.
Price at the moment looks to be distributing, I would love to see price trade up and into the Supply Zone I have marked out above to give us that refined entry.
However price is showing signs of breaking down, as it begins to protect those highs and break those lows. It is important we aren't pre-emptive as tempting as it may be. Its better to miss out then take an L.
I will be waiting now for price to display some confirmation of an entry to take this market short just to be safe, If I see anything that presents an opportunity I will let you all know!
Price at the moment looks to be distributing, I would love to see price trade up and into the Supply Zone I have marked out above to give us that refined entry.
However price is showing signs of breaking down, as it begins to protect those highs and break those lows. It is important we aren't pre-emptive as tempting as it may be. Its better to miss out then take an L.
I will be waiting now for price to display some confirmation of an entry to take this market short just to be safe, If I see anything that presents an opportunity I will let you all know!
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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.