Gold has tapped into Supply liquidity zone and also induced early sellers at 2037.00 zone and has now come back down and broken structure by breaking below 1H & 4h Candle. Also additional confirmation by closing below support.
Since it had tapped into supply and into liquidity and also confirmed sells all that needs to happen is just to wait. We are just patiently waiting for entry zone at 2032.00-2035.00 waiting for price to retrace as High as possible close to where we will place stop loss. Stop loss has to be placed at the Last inducement & approximately 5pips above last High so sl will be@2038.00.
Now looking below at blue demand & liquidity zones that has been built. Gold looks highly probable to reach at least 2007.00 -2001.00.
TP1: 2007.00. TP2:2002.00. TP3:2000.00
Since it had tapped into supply and into liquidity and also confirmed sells all that needs to happen is just to wait. We are just patiently waiting for entry zone at 2032.00-2035.00 waiting for price to retrace as High as possible close to where we will place stop loss. Stop loss has to be placed at the Last inducement & approximately 5pips above last High so sl will be@2038.00.
Now looking below at blue demand & liquidity zones that has been built. Gold looks highly probable to reach at least 2007.00 -2001.00.
TP1: 2007.00. TP2:2002.00. TP3:2000.00