Will NFP give us the push we need on Gold?
I think so.. Below are my thoughts on Gold for this upcoming week. I begin my analysis on the M and complete a Top Down Analysis. Here are my thoughts:
Monthly: Overall trend is Bullish - will create new high before monthly closure (5 days)
Weekly: Trend is Bullish - has created some newer highs on LTFs, expect some PB before ending the week
with new highs (news will help)
Daily: Trend has is bullish - daily candle did close above prev candle, could see some PB to get liquidity
to go higher.
4hr: Trend is bullish - W formation is complete, could expect PB before going higher
1hr: Trend is confirmed bullish- currently sitting at W high, has not had correction yet, expect PB before going
higher and creating new highs this week.
Gameplan:
1) Wait for market to re-open and candles to form. This will tell true direction
2) I see sells as a PB at the beginning of the week and at the end after the new high has been created.
3) Look for an entry with a BOS, OB and FVG as confirmation.
4) Don't over think it.. Remember Patience Pays and We're passing this challenge!!
Monthly: Overall trend is Bullish - will create new high before monthly closure (5 days)
Weekly: Trend is Bullish - has created some newer highs on LTFs, expect some PB before ending the week
with new highs (news will help)
Daily: Trend has is bullish - daily candle did close above prev candle, could see some PB to get liquidity
to go higher.
4hr: Trend is bullish - W formation is complete, could expect PB before going higher
1hr: Trend is confirmed bullish- currently sitting at W high, has not had correction yet, expect PB before going
higher and creating new highs this week.
Gameplan:
1) Wait for market to re-open and candles to form. This will tell true direction
2) I see sells as a PB at the beginning of the week and at the end after the new high has been created.
3) Look for an entry with a BOS, OB and FVG as confirmation.
4) Don't over think it.. Remember Patience Pays and We're passing this challenge!!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.