GOLD should continue bullish as the Dollar takes a breakcaught a nice move yesterday and looking for the move to continue today. We are sitting in a high volume level on the VP and bears are starting to fall back from being active. waiting for the next 2hours of the Asian kill zone to show me what price wants to do.
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Gold is giving Bullish Signsnow that we are in the London kill zone I am looking at price action and its looking like it wants to switch up bullish. Got In right at the open of Killzone. and price has now moved back above the daily level. Thinking it can hold from here and push up. if it breaks down then we will wait for a test of a lower level before getting in.
Gold is not Bullish...Yet...Now that we are in a new week and middle of the month we are waiting for price to show us what it wants to do on this Monday weekly open. I think they want to make a low for the week first before going bullish. So we will look for that price action to confirm first before considering anything.
GU could be getting ready to Reverse!Now that we are in a new month AND its election week next week the market could get very volatile. Dollar has been moving bearish all week and most are still expecting it to move bullish. I'm thinking its more likely to turn bullish for a little while. Leaving the Election news to give it the bullish push it needs to start pushing back up. This could lead to some significant moves in the market. We just have to remain ready!
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GU is volatile...but we need more data for direction...I cant really call it at the moment. Price is indecisive as we come to the monthly transition. The last day of the month and anything can happen. Watching for a solid direction and sitting on hands for now until London open. Expecting some good price action for both sessions going into Thursday.
GU look like it setting up for a nice entry for London sessionI been looking for a solid sell entry to continue the bearish trend that GU has been in. The dollar failed to break out and is now retracing to grab more liquidity to push up. in turn giving us a nice entry for a sale. We have to be patient and allow price to find its resistance levels. Expecting a nice set up for London.
Carefull...GU might just FLIP! Monitoring price action and its looking like the Bulls might want to turn this thing around. Sitting on hands for now, waiting for London session to have more data to judge if its worth it to take a position. The dollar is looking like its almost out of energy and needs to take a rest.