🤑TOP DOWN ANALYSIS OVERVIEW🤑 biggest time frame yearly base on yearly gold is in a bull trend but current in a corrective phase 🧐Eagle eye: bull Monthly: higher low /lower low formatted bear trend current candle is a retracement candle and also filled out discounted area of monthly time frame weekly: extremely bearish in weekly now in a corrective phase and also fill out extream Imbalance area or FVG gap take a resistance here and also formed and key reversal weekly candle bear trigger event also occurred everything favour of bear right now even no volume on the weekly chart
1 Structure analysis time frame: h4 2 target time frame: h4 3 Current Move: impulse for h1 4 Entry Time Frame: h1 4.1 Entry TF Structure: bear 4.2 entry move: wait until 1752 and wait for some bearish signals 5 Support resistance base: weekly order block resistance and FVG resistance 6 FIB: trigger event Ok 7 candle Pattern: momentum Engulfing bull 8 Chart Pattern: higher low 1752, reversal start 9 Volume: no volume Compare to the whole move 10 Momentum UNCONVENTIONAL Rsi: Range shift for sideways 11 Volatility measure Bollinger bands: Squeez break out /head-fake/walking band 3 signals 13 Sentiment ROC: weaker than USD 14 final comment: sell right now 15 : decision: sell 16 Entry: 1752 17 Stop losel: 1758 18 Take profit: 1730 19 Risk to reward Ratio:1:6 Excepted Duration: 2 days