On gold, we are inside of a monthly (1238.23-1205.49) and weekly (1243.13-1205.49) demand zones. There is also a daily supply zone formed just above us but this zone working out is low probability. We have 2 alternatives that may happen here; 1- Red: We may go to lower timeframes and look for good buying opportunities right now and ride the price till daily supply...
TOP-DOWN ANALYSIS MONTHLY: we are currently inside of a monthly demand and expecting a bounce from this zone DAILY: the price is far away of a daily supply now, and it may want to test it H4: it has just created a new H4 demand zone. Test of the zone should be a good buying opportunity TP1: just before the H4 candle wick TP2: trail the stop till...
Since it is very low on the altitude for shorts, we should just look for a quick 1:1, not more. This trade is an aggressive one twitter.com tradewithcan.blogspot.com.tr
DAILY : Currently, we are far away from daily demand and price is way extended to the upside. H4 : H4 zone direction is down H1 : there is an H1 original zone inside of an H4 zone TP1 : 1:1 Ratio TP2 : Trail stop till the lower channel line or the daily demand zone Good luck!