Gold Forming Quasimodo Pattern
Gold has been running for a long time and is due for a correction. Quasimodo pattern formation of order flow indicates that some consolidation or correction may be in order. Of course, this is gold and it has a long bias overall. Shorting is extremely risky.
There is no clear bias here but if you're selling, sell from the bearish order block and if you are bullish buy from the extreme (bullish) order block. Right now we are in no-man's land.
There is no clear bias here but if you're selling, sell from the bearish order block and if you are bullish buy from the extreme (bullish) order block. Right now we are in no-man's land.
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Notice that the bullish order block has not been tapped into. We have an awkward low just above it that is going to get run if this bearish order block holds.
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