what I am having a look at on gold is that we have broken below the key support I had my eye on at 1783 and what this shows me is that we have broken below the bullish structure and what I would like to see from here is a pull back to fill some of the imbalance to then create some downwards momentum and and show weakness in gold.
Once we start pushing to the downside price should then break the lows created last Friday at 1770 and then come down to retest older levels of support around the 1750 levels.
However with this idea it is super important to wait for the right entry criteria in the forms of break and retests, double tops and strong pushes away from key resistance levels of the higher timeframes.
Once we start pushing to the downside price should then break the lows created last Friday at 1770 and then come down to retest older levels of support around the 1750 levels.
However with this idea it is super important to wait for the right entry criteria in the forms of break and retests, double tops and strong pushes away from key resistance levels of the higher timeframes.