This week was potentially the market getting ready for a large scale reversal across multiple assets. In correlation gold looks ready to come to lower numbers so expect that as well. So here we have the formation of Wyckoff where we have a clear selling climax, and the labeled A.R. Is debatable. However we more importantly can identify a clear range with their being both signs of weaknesses and signs of strength. So I’m guessing that price will maybe acknowledge the s.o.w as liquidity to take to push higher, and this will the lead price going upwards to target a supply. Supply demand zones can be interpretive so choose your supply with modesty. Price has an apparent creek within the Wyckoff so expect a large move in one direction or the other and then expect a final few moves to include a break and retest of some sort, or something that will lead to price moving to the intended direction. Now we can try to identify where price will seek to find it’s liquidity at and place our entry in that general area. When trading with good money management, always consider a SL. SL is optional but advised.
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Good entry on this one, so far this is moving well. If price breaks the 27500 then this is going to the moon!
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TP1 reached.