1.PRICE creating a Support around a Demand on the Daily TF. 2. Is price forming an Inverted Head and Shoulder as well??
I am expecting the next daily candle to fill the wick of the previous daily candle regardless of the bear pressure.
After price seeing a massive impulse to a demand zone I am expecting a correction to the golden zone levels of the Fibonacci..... I am going on a swing trade for pair.
I am looking out to selling GU when price breaks and close beyond 1.30865
Price will definitely make a correction by dropping to a reasoning level in the coming week.
Price would like to pull a retracement before continuing the downward trend.....it's a short for me
from my analysis, gold will go short in the coming week. it would like to retest 1573 and if it's able to breakout on this level then the short view will be invalid in the initial stages of the week. But there is a bearish Harami pattern seen in the 4H time frame i see s short trend for gold. Possible target will be 1563
The market will likely retest the previous support ....1557 but this will be more precise when 1559 is broken, then surely our target may possibly be between 1557-1546 for a strong selling opportunity.
based on trend analysis the market would like to retest its previous support...its a buy for me ....