Gold is a mess but it certainly is creating a lot of liquidity on both the buy and sell side. The range leaves us with uncertainty but we can try and make sense of what is going in.
I would like to locate a short to sweep the buyer liquidity BUT I am concerned because the majority of the market has the same idea according to the sentiment.
If price pulls back to the fresh supply, I will be looking for shorts AFTER we see a manipulation of the area.
If price breaks the supply aggressively we can assume that our short idea will be thrown out of the window and we will have to begin to search for buy setups to sweep the equal highs.
It's a tricky pair to work out currently, the best thing to do is sit on our hands.
I would like to locate a short to sweep the buyer liquidity BUT I am concerned because the majority of the market has the same idea according to the sentiment.
If price pulls back to the fresh supply, I will be looking for shorts AFTER we see a manipulation of the area.
If price breaks the supply aggressively we can assume that our short idea will be thrown out of the window and we will have to begin to search for buy setups to sweep the equal highs.
It's a tricky pair to work out currently, the best thing to do is sit on our hands.
