GC1! Gold 2021 Dec 05 Week
Market traded in a $20 range last week, quite an average trading week
for Gold . After the ultra high wide range bar a, we do not see
any follow through in strength.
Trade will be guided by the trend channel.
Price having exited the uptrend line, will this indicate oversold? or if
price is rejected by the line, then we can see
Market is in extended rotation, there's possibility of market testing
1718 / 1678
Weekly: Average down bar closing slightly below 50% of
bar spread and almost level with previous
bar. Weekly channel showing oversold, we may see temporary strength
Daily: Low up bar closing off high = weakness
H4: Very high up bar followed by upthrust bar = Selling is present
Short on Test and Reject | Long on Test and Accept
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Have a profitable week ahead. GC1!