Hi, as we see last week Gold has drop quite a lot thus completing the Daily Channel , now we may look for pullback correction and we want to take this opportunity.
Market structure still in bullish bias from Weekly perspective, price may ranging and going down a bit lower.
Looking for a solid entry point when we see the bearish trend already exhausted.
Point of Interest may be vary as we see a lot of exposed liquidity area from previous prices and we should taken them for confluence confirmation.
Setting up Buy Limit on 1820-1840 range should be good long order for now and looking back from previous prices, we see a consolidation area with a sign of strength from that level indication prices can be going up again.
Risk to Reward ratio 3:1 or 2:1
Huge SL right at 1810, swing setup.
Use proper risk management as we are counter trending on this recent market structure.
Goodluck :D
Market structure still in bullish bias from Weekly perspective, price may ranging and going down a bit lower.
Looking for a solid entry point when we see the bearish trend already exhausted.
Point of Interest may be vary as we see a lot of exposed liquidity area from previous prices and we should taken them for confluence confirmation.
Setting up Buy Limit on 1820-1840 range should be good long order for now and looking back from previous prices, we see a consolidation area with a sign of strength from that level indication prices can be going up again.
Risk to Reward ratio 3:1 or 2:1
Huge SL right at 1810, swing setup.
Use proper risk management as we are counter trending on this recent market structure.
Goodluck :D