Gold seems quite stuck to me, showing some MM consolidation on the latest close 4H candles, daily closed quite bearish/evening star.
However Gold tends NOT to care about patterns and break out any moment.
I see a rising wedge which would lead to gold making a further move to the downside and a failed re-entry/re-test of the ascending line.
I'm quite not sure how to set the ascending lines as they seem to be both very co-relative to the current market moves/price action. I am short term neutral on Gold,
medium term - unsure and long term bull.
I have marked out the by my consideration important zones in the market, using my color coding top down analysis.
Legend:
Magenta/Purple - Monthly
Blue - (Have non on the chart,) Weekly
Red - Daily
Orange - 8H
Green - 4H
White - 1H
Black - (None currenty, but stands for Entry Points for running trades)
The other type of blue with the mark ups is used purely for mark ups.
Including all the mixed fundamental data makes me unsure about the current gold market, and i would consider buying any slightly bigger dips around key areas.
Counter trades are not excluded either!
Trade what you get. What the market gives you.
Don't forget to like & comment!
I appreciate your input! All ideas and opinions on the market are more than welcome!
Don't forget to ->
Send me some appreciation Click that cheers button ;) <-
Thank you!
However Gold tends NOT to care about patterns and break out any moment.
I see a rising wedge which would lead to gold making a further move to the downside and a failed re-entry/re-test of the ascending line.
I'm quite not sure how to set the ascending lines as they seem to be both very co-relative to the current market moves/price action. I am short term neutral on Gold,
medium term - unsure and long term bull.
I have marked out the by my consideration important zones in the market, using my color coding top down analysis.
Legend:
Magenta/Purple - Monthly
Blue - (Have non on the chart,) Weekly
Red - Daily
Orange - 8H
Green - 4H
White - 1H
Black - (None currenty, but stands for Entry Points for running trades)
The other type of blue with the mark ups is used purely for mark ups.
Including all the mixed fundamental data makes me unsure about the current gold market, and i would consider buying any slightly bigger dips around key areas.
Counter trades are not excluded either!
Trade what you get. What the market gives you.
Don't forget to like & comment!
I appreciate your input! All ideas and opinions on the market are more than welcome!
Don't forget to ->
Send me some appreciation Click that cheers button ;) <-
Thank you!
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