A simple set up on Gold here. I am anticipating a drop down to the low of the flash crash we experienced at the beginning of the week. The 1680 region is the low of 2021 which was visited twice in March.
Price appears to be holding under the H1 200 EMA at the current area of support/resistance (this are is more evident on the H4 timeframe) and so i anticipate a drop.
This set up offers a nice R:R with stops placed above the 200 EMA. Hopefully a strong dollar can push us down!
Price appears to be holding under the H1 200 EMA at the current area of support/resistance (this are is more evident on the H4 timeframe) and so i anticipate a drop.
This set up offers a nice R:R with stops placed above the 200 EMA. Hopefully a strong dollar can push us down!