GOLD YET TO CONFIRM BEARISH MOVE ON MONTHLY
Dear Traders,
From my monthly analysis of Gold, it is only looking bearish but yet to confirm that this metal is ready to sell aggressively until I see closure below the upper Bullish Order block and the Fair-Value-Gap (FVG) right below the zone.
There are still plenty of opportunities for buyers and sellers to make intraday profits until this happens.
DXY is looking very bullish on the monthly and weekly and if the monthly bullish pattern we are beginning to see on DXY plays out, we may see gold retesting the 1600 zone.
I have a bearish bias for Gold on the higher timeframe. However, I will continue to review DXy on a weekly basis for bullishness to confirm my bearish bias for Gold in the long run. However, for now, I remain neutral and will keep trading price action for buy or sell on the daily time frame to 4-hr.
Trade carefully and apply proper risk management.
Regards
From my monthly analysis of Gold, it is only looking bearish but yet to confirm that this metal is ready to sell aggressively until I see closure below the upper Bullish Order block and the Fair-Value-Gap (FVG) right below the zone.
There are still plenty of opportunities for buyers and sellers to make intraday profits until this happens.
DXY is looking very bullish on the monthly and weekly and if the monthly bullish pattern we are beginning to see on DXY plays out, we may see gold retesting the 1600 zone.
I have a bearish bias for Gold on the higher timeframe. However, I will continue to review DXy on a weekly basis for bullishness to confirm my bearish bias for Gold in the long run. However, for now, I remain neutral and will keep trading price action for buy or sell on the daily time frame to 4-hr.
Trade carefully and apply proper risk management.
Regards
FINSPOT ACADEMY