Hadapan Emas

GC1! - Sep 9-13 Analysis

48
Monthly :
  • Monthly CRT (bearish) in progress.
  • ERL -> IRL. Mostly likely IRL would be the monthly volume imbalance co-inciding with the 50% (2487.1) of the previous monthly candle.
    syot kilat
  • Overall monthly PA is still bullish. Hence multiple confirmations needed for bearish scenario.

    Weekly :
  • last week completed the ERL-> IRL on weekly reaching the weekly fvg (in blue) and bouncing from there
  • The bounce was also from 61.8% of the last 3 week's range which was expected but additional rejection was seen from weekly Volume imbalance (in red)
    syot kilat
  • weekly chart is neutral as of now. Need to see reaction of price at 50% and OTE of range to confirm any long or short bias

    Daily :
  • Daily chart is also neutral with a slightly bearish bias as price looks to reject from the bearish daily OB.
  • However would need a strong displacement early in the week (Mon/Tue)on the down side to confirm the bearish scenario. syot kilat4 hour:
  • The 4h chart is seen consolidating in a range. syot kilat
  • We need confirmation here to confirm our bias on either side.

    Summary :
    Monthly action shows bearish conditions, but we need confirmation on lower time frames to confirm our bias. Most likely wait and watch for price to give a confirmation before engaging further. However range traders are most likely to find quick opportunities if the setup presents itself.

Penafian

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