MARKET PHASE
AREA OF VALUE
TRADE
-
GOLD
is in a weekly downtrend with a daily timeframe corrective structure taking place.
AREA OF VALUE
- We can expect a buildup of liquidity (buy stops, longs, stop losses) above the daily swing highs. On the 4H timeframe, we are already seeing selling pressure taking place above the daily swing highs.
TRADE
- Buy-side liquidity has been taken. Wait for a violent break and close below the swing low and a subsequent pullback into the liquidity zone before going short.
Comentarios:
TREND CHANGE. Gold violently broke to the upside. Wait for a corrective structure on the daily time frame.