What will Gold do this week?
Monthly: Trend is extremely Bullish, however current M candle opened Bearish and has 12 D to close. Has some support at FVG, expect some buys (as PB) -before new M starts.
Weekly: Trend is currently Consolidating. Has closed below prev candle, however does show some rejection at current level.
Daily: Trend is Bearish, has tapped into Bullish FVG, expect some buys (as PB) before continued sells.
4hr: Trend is overall bearish, however currently consolidating due to how market closed on Friday. There is NO TRUE DIRECTION RIGHT NOW!!
1hr: Trend is consolidation - will need to have a confirmed break out of the consolidation range to consider taking trade.
Gameplan for Trade:
1) Wait for Market to open and provide true direction
2) Look for a break and close OUTSIDE of consolidation box to confirm the direction
3) Enter once you get the confirmations and manage your trade!
Weekly: Trend is currently Consolidating. Has closed below prev candle, however does show some rejection at current level.
Daily: Trend is Bearish, has tapped into Bullish FVG, expect some buys (as PB) before continued sells.
4hr: Trend is overall bearish, however currently consolidating due to how market closed on Friday. There is NO TRUE DIRECTION RIGHT NOW!!
1hr: Trend is consolidation - will need to have a confirmed break out of the consolidation range to consider taking trade.
Gameplan for Trade:
1) Wait for Market to open and provide true direction
2) Look for a break and close OUTSIDE of consolidation box to confirm the direction
3) Enter once you get the confirmations and manage your trade!
Penafian
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