Gold could likely close its June Candle in red ?!
Hello,
Sorry for those who believe strongly in inflation index and Macro economics that Gold could be safe heaven during the recession.
Two times, Gold did create a fake breakout (Fake BO), and you did see how PA behaved afterward. My short-term target in Gold is 1807-1790 ( probability: 80% for short, 20% Gold will find some support around 1820).
Market structure:
This is a very tricky question, it depends mostly in which timeframe you are in your trade. I share with you here the 8h candles TF. Personally, I trade with 1H and 8H TF:
Major flow: Bearish ( from 0, 1, 2, 3, 4, 5, 6,7 >>> clearly bearish consolidation) you can say we have a bearish flag, triangle form etc.
Minor flow: Consolidation, weak buying pressure and THERE IS NO STRONG SUPPORT before the 1808-1790 level.
Thus, It is highly probable that we have a short setup, at least 1:3 or even 4 risks: reward ratio.
Cheers and bye for now.
Sorry for those who believe strongly in inflation index and Macro economics that Gold could be safe heaven during the recession.
Two times, Gold did create a fake breakout (Fake BO), and you did see how PA behaved afterward. My short-term target in Gold is 1807-1790 ( probability: 80% for short, 20% Gold will find some support around 1820).
Market structure:
This is a very tricky question, it depends mostly in which timeframe you are in your trade. I share with you here the 8h candles TF. Personally, I trade with 1H and 8H TF:
Major flow: Bearish ( from 0, 1, 2, 3, 4, 5, 6,7 >>> clearly bearish consolidation) you can say we have a bearish flag, triangle form etc.
Minor flow: Consolidation, weak buying pressure and THERE IS NO STRONG SUPPORT before the 1808-1790 level.
Thus, It is highly probable that we have a short setup, at least 1:3 or even 4 risks: reward ratio.
Cheers and bye for now.
İşlem aktif
Nice break out below 1835-1837, retest the Supply and rejected, now Gold will decide to go south or north. My probability is the same, we will go with the major flow and market makers. Hope you see what I mean :)İşlem aktif
First target at the low of number 9 is reached. Now I am waiting to see the finish off at the box zone at demand liquidation area below 1808-1788.
Cheers and safe trade.
İşlem kapandı: hedefe ulaştı
Major target is reached. However, if Gold close today below 1820-1825, I am pretty sure that we will see Gold sub 17xx sooner than later. Cheers and bye for now.
Not
All the targets and zone are marked in the chart above. Cheers all and hope a nice Pips for you.
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.
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.