We just came back from an OB, Trend still bearish. Engulfing candle on 4hour, manage risk as CPI could take out stops on Thursday.
Is Gold ready to sell?, lets wait for a clean break and retest for confirmation
Its time to look for buys, Lots of traders were singing dollar weakness but the market speaks different. Lets wait for a retest if we get any.
US30 has painted a beautiful double top, and now in a bearish wedge. lets patiently wait for a break to the downside
We have changed character to bearish, we came to retest liquid zone. Price is ready to fall.
We are bearish overall on Ger40. We have come to retest a liquid zone where we could find more selling pressure. Target is double the first leg down.
Gold has reached its resistance, 1840 will present an opportunity to sell after its retested. Manage your Risk as markets are unstable
We know Gold is volatile, but could this be a good sell set up for short term trade? only 1:1 to allow room for SL
Overall trend in bullish, Bearish flag forming but not confirmed, Our Goal is for a last swiip at the top to reveal respect of structure or not. Market Consolidation should not be ruled out.
In my view, this can only be a 1:1 short term trade but possible for more upside after break of structure for a 1:10, monitor closely for 1:10
Entered our awaited sell set up after manipulation/ Stop outs at our liquidity zone after Gap was identified.
See it as a Gap, Smart money coming to close the Gap before selling again. we are monitoring Dollar index to trade this set up.
Gold Sell Smart Money Concept, Look at it as a GAP, then Smart money Fills up the gap, then continue Selling. Target 1700 this is the Daily target for smart money. Simplicity is Key.
Waiting for structure to reach the top, followed by rejects followed by confirmation for short.
A Retest of the broken Zone Could Attract more sellers to finish off the bearish trend,
Sell Limit on a Retest on trend line support now as resistance.