Is GOLD DESTINED fOr $1537 zone??! Lets see

GOLD Thesis

- Monthly: Last month candle broke and closed above $1544 zone taking out 2 recent liquidity spikes keeping gold market structure bullish.

- Weekly: Over 8 weeks of bullish impulse to look out for with previous 3 weeks closing with long wicks to the upside signalling buyers want to push gold higher. Market structure is also bullish on weekly with gold gapping above &1582 zone.

- Daily: Tuesdays bear candle broke below $1582 weekly/$1573 daily taking out previous 2 day liquidity spikes and possibly taking out any long position stop losses then using as volume for shorts. Next possible target $1537 zone.

- 1hr: Huge impulse has occurred to the downside breaking below $1573 & ascending TL changing momentum from bullish to bearish. Now expecting a pullback into $1573 for a retest, if level holds expect a sell off to $1537 forming new lows.


XAU short confluences

- Gold could retrace after taking out liquidity spikes and running into $1582 zone (monthly/weekly)
- Break out/ short traders taken out of market
- Break below recent higher low (daily)
- Break below MA (daily)
- 4weeks Ascending TL broken (4hr)