My thoughts on gold
As u can see on my chart, I have marked all the BSL/SSL and imbalance as well as a Fib retracement tool from the low to the high, which indicates that we are below equilibrium and into the 62 percent which means we are at fair value price from institutional perspective.
we could see price rally to the upside or downside, who knows? as we are still in the expansion phase on the weekly timeframe i would not buy cause the bears are still in play and the Daily tf does not have a valid Retracement so we still dropping technically,
Also have unemployment claim’s tomorrow at 8.30 so we don’t know which direction it could go to, personally i see this as liquidity grab to the upside.
I could be wrong so trade at your own risk. And follow your plan
we could see price rally to the upside or downside, who knows? as we are still in the expansion phase on the weekly timeframe i would not buy cause the bears are still in play and the Daily tf does not have a valid Retracement so we still dropping technically,
Also have unemployment claim’s tomorrow at 8.30 so we don’t know which direction it could go to, personally i see this as liquidity grab to the upside.
I could be wrong so trade at your own risk. And follow your plan
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