Based on what I see, I see a price to make a push up then drop at the 30min banker candle level. Previous short setup I had where price had drop at 1946 was marked up last week Wednesday before any CPI reports came out as I trade more based on what I see in terms of price and what the candle pattern is saying. No one is 100% accurate but at least the setup I had...
From the start of sharing my ideas of Gold, price has been moving in my direction thus far. Price came down to one candle I was targeting for a short term long where the bearish momentum can continue long term. On the far left, where it is highlighted, was the candle I had my eye on a gold to do a short buy up until that last green candle. The last green candle...
Here is a Daily Chart Analysis to see a more detail picture as to whether my weekly analysis aligns with my bear bias. If price do not go to that level where I expected which is 1717 or so. I see another area where price would pullback to then drop which would be at 1692 or so, around that area.
Price has broken the weekly support area as expected from my last analysis published. I am expecting price to make a pullback in the next day or two until Wednesday or so for the sell to continue. I expect the price to pullback to around 1712-1717 or even up to 1720 before the sell continuation. Overall, my bias for GOLD has been BEARISH for about a month now...
This is the WEEKLY chart to follow-up with the MONTHLY Chart I Published earlier. I see an ACCUMULATION BREAK PATTERN at play for a bearish move, another conformation for me to go for the short bias. Break of Lows, forming new lower lows and lower highs. WEEKLY SUPPORT, has a strong chance of breaking. Let's see how this all plays out. GOOD TRADE TO YOU.
Based on my OVERALL Price action Analysis, I see Gold having a great chance for a long term BEARISH move. I analyze using only price action and don't analyze much based on news. So from this higher timeframe, price action analysis, I see it being a bearish move overall. Will Share the weekly timeframe for a more inside look for any patterns.