Here is my analysis on gold - bearish bias - bearish structure.
Currently trading within a bullish channel which is making it's retracement. We are still trading within the 1 hour trading range which formed a lower low. i'm personally expecting some distro within the 1 hour supply zone before getting into a potential sell down to the previous support and 4hour demand.
There are numerous pivot levels. - marked, red box is resistance, we have a 1hour supply zone ( possible mitigation before selloff)
we also have a 30minute supply zone and 15 minute supply zone, again... possible mitigation before selloff.
I will be looking on the lower timeframes when price is within either of these POI for more evidence of sells.
Have a great week trading guys.
please like and follow to help me grow this channel.
Currently trading within a bullish channel which is making it's retracement. We are still trading within the 1 hour trading range which formed a lower low. i'm personally expecting some distro within the 1 hour supply zone before getting into a potential sell down to the previous support and 4hour demand.
There are numerous pivot levels. - marked, red box is resistance, we have a 1hour supply zone ( possible mitigation before selloff)
we also have a 30minute supply zone and 15 minute supply zone, again... possible mitigation before selloff.
I will be looking on the lower timeframes when price is within either of these POI for more evidence of sells.
Have a great week trading guys.
please like and follow to help me grow this channel.