We are currently at the H4 resistance but before I take any position I will wait for the break and retest to continue up with it or I will wait for price to bounce back to the H1 broken support. if confirmation is given at this current zone Via a rejection I will take a sell until the H1 zone. But wait for proper confirmation first.
The market price is currently at the weekly resistance and the neckline of the weekly's inverse head and shoulder looking to break. I am looking to get buy entries at the retest of the H4 support level. it can also break the H4 support level and fail to break the weekly resistance. if that happens then I will be looking for sells
I am looking to take long term buy opportunities from this pair since well the Weekly timeframe is sort of presenting an inverse head and shoulder. I will either take my buys on the H1 support if it presents reversal candles or if not I will wait for the break of the H4 resistance and retracement to enter my buys.
Lookinh for a nice sell entry on the retest of the broken support turned resistance. HTF analysis also shows a strong move to the downside. I will only enter when price respects the resistance and shows signs of rejection.
My overview on Gold. I tend to analyse both directions of the market to be able to see what will happen when price gets to the particular price. This market breakdown allows me to be prepared of whatever the market will give me. We are now on a short term buy looking to get to the neckline of yesterday's head and shoulder.