What are your thoughts on Gold? Possible Rally??
Updated
Could we see a rally back to Structure break or Area of Interest???
-Price has broken through and retested Bullish Trend line
-Price has broken through Structure Swing Low
- LH Created
Thesis: Wait for price to pull back to 1)Structure break or 2) Area of interest
Notes:
bearish run is rejecting Daily lvl 2558 W/ Massive rejection wick.
1) Rally to Area of Interest would be around 50% prz. (Head & Shoulders R Pattern)
2) Rally to Structure low (MSS) would be a 23.6prz.
-Price has broken through and retested Bullish Trend line
-Price has broken through Structure Swing Low
- LH Created
Thesis: Wait for price to pull back to 1)Structure break or 2) Area of interest
Notes:
bearish run is rejecting Daily lvl 2558 W/ Massive rejection wick.
1) Rally to Area of Interest would be around 50% prz. (Head & Shoulders R Pattern)
2) Rally to Structure low (MSS) would be a 23.6prz.
Note
Lets see where we hit a Continuation
Note
Note
Price is Headed bullish, Looking for price to hit Daily Resistance lvl inside of the area of interest. Looking for a rejection Daily rejection of that area. (50 % Rally) also creating a LH
- Break & Retest
- Head and Shoulders R- Pattern
Current Bearish Divergence forming on H1
(Price may stall out at the 2,634 daily lvl and return bearish.)
Note
Price is at a 38.2 PRZ, Right at the area of interest and Bearish Trend Line for the confirmation touch point. We're also looking at the formation a Head and shoulders pattern. almost time to take Short Entries.
Trade active
We received the pull back we were waiting on!
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