Intraday Analysis - GOLD - ( 7th MAR 2023 )
As per analysis last week , Price tapped into our take profit region with possibility of price heading towards 1852-1855 region. Price was setting up better sell side liquidity during the start of the month and we may see a potential shift in market structure soon as we can see new lower highs printed and failure to print higher highs.
Will be primarily looking for shorts with FED CHAIR JEROME testifying tonight at 11pm SGT. A hawkish remark by the fed will bring prices of gold back down however with a dovish stance we will adapt to buys tmrw.
Bias - hawkish remark by jerome - gold shorts - dollar dominance
HRHR SELLS AT 1864
MRMR SELLS AT 1855
SAFER SELLS AT 1847
Will not be looking for buys in our analysis although scalp buys are valid.
For new traders, watch and observe the volatility during the news and wait for better price action or retest before entering tmrw. If you want to trade, reduce risk especially during NY session tonight.
As per analysis last week , Price tapped into our take profit region with possibility of price heading towards 1852-1855 region. Price was setting up better sell side liquidity during the start of the month and we may see a potential shift in market structure soon as we can see new lower highs printed and failure to print higher highs.
Will be primarily looking for shorts with FED CHAIR JEROME testifying tonight at 11pm SGT. A hawkish remark by the fed will bring prices of gold back down however with a dovish stance we will adapt to buys tmrw.
Bias - hawkish remark by jerome - gold shorts - dollar dominance
HRHR SELLS AT 1864
MRMR SELLS AT 1855
SAFER SELLS AT 1847
Will not be looking for buys in our analysis although scalp buys are valid.
For new traders, watch and observe the volatility during the news and wait for better price action or retest before entering tmrw. If you want to trade, reduce risk especially during NY session tonight.