We are in a bullish structure in which we see that the price is in a long position, thus respecting the bullish structure, we are also in a demand zone to be able to go long, the risk is 9.8 pips, to be able to win 40 pips.
Just want to share an idea of my analysis in gold, surely you will have a more in-depth analysis, but according to my technical analysis, this will happen and I am positioned short, first of all I see a double top (H4), with the neck break, right now it is retesting the neck, so it gives us a possibility of a fall of 3167.2 points, to reach 1765.98, there is also...
It's so simple, we have priorities, one of them are resistence and soports, supplies , and the nearst one is between 1.10700-1.10900, and the second thing where we must take a peek are the trendlines, we have the up trendline broke, dont confuse trendline with trend, are two different things, well on this case the 3rd point has been broken, so now before to go...
I was on short but if we can take a peek we can see that wave a big Sop that doesn`t allow the price push down