The fact that:
- we've created a new bullish impulse leg
- retraced back to it's equlibrium
- started accumulating orders at that level
- touched into discount to rebalance multiple times
- and now price is closed above highs
indicates a possible extension to the upside but we have to be cautious this time.
Risk is high now in the markets, we have to take into consideration the global changes that takes place nowadays. We have to adapt to a neutral mindset more than ever.
Always have an invalidation level in place for your bias. And keep in mind, this bias does not mean direction for each week/day/session. As Gold expands, consolidation phases are more likely to occur.
With that being said, we can also look at tis recent accumulation and break to the upside as a potential Manipulation before distributing to the downside.
All in all If price stays and closes above the most recent fvg, I'm sticking to the bullish bias. If not, I'll wait for more data to support either direction. We can shoot up for the monthly high, or turn down to hell from the fvg that we are in now. We always need more data, to see clear directions. I'll watch for the very next step with each candle we got.
During the upcoming weeks, I'll keep a close eye on the daily chart, and not expecting huge expansion targets with my trades. Taking profits at daily key levels, highs and lows. There are still plenty of setups to catch. Just focus on your analysis and execution. Stick to your plan. Forget the profits. That's just a byproduct of being disciplined, nothing much.
- we've created a new bullish impulse leg
- retraced back to it's equlibrium
- started accumulating orders at that level
- touched into discount to rebalance multiple times
- and now price is closed above highs
indicates a possible extension to the upside but we have to be cautious this time.
Risk is high now in the markets, we have to take into consideration the global changes that takes place nowadays. We have to adapt to a neutral mindset more than ever.
Always have an invalidation level in place for your bias. And keep in mind, this bias does not mean direction for each week/day/session. As Gold expands, consolidation phases are more likely to occur.
With that being said, we can also look at tis recent accumulation and break to the upside as a potential Manipulation before distributing to the downside.
All in all If price stays and closes above the most recent fvg, I'm sticking to the bullish bias. If not, I'll wait for more data to support either direction. We can shoot up for the monthly high, or turn down to hell from the fvg that we are in now. We always need more data, to see clear directions. I'll watch for the very next step with each candle we got.
During the upcoming weeks, I'll keep a close eye on the daily chart, and not expecting huge expansion targets with my trades. Taking profits at daily key levels, highs and lows. There are still plenty of setups to catch. Just focus on your analysis and execution. Stick to your plan. Forget the profits. That's just a byproduct of being disciplined, nothing much.