After breaking the 2013 strong support, gold pulled back up to retest the 2030-40 supply levels. At this point I am only shorting gold for targets below 1969. This is a likely day for a bull trap meaning price will close lower. Use proper risk management.
Price is in a critical area (Orderblock + FVG + Breaker). Created an ascending channel up to the POI with divergence. All week has been bullish so we'd expect some retracement on Friday at least for a TGIF setup. So this setup comes in conjunction with the HTF narrative.
That massive spike in volume just confirms the indicator of the HNS pointed out in the charting published. We had to have expected some sort of consolidation in an expected (but not so quickly) surge of parabolic movement that may resemble what looks like a bullish pattern (and it very well could be—a consolidation that got derailed then ends up right back on...