Gold has been on a downtrend lately and currently in consolidation. after the long wick rejection that bounced off the 68% retracement, took an entry once we cam back and tested the 38% level.
3:1 Risk to Reward Ratio
After GJ opened the week with a major gap we were on major bullish momentum during the first 3 days of the week. We are looking for a mid week reversal after the rejection from the 4hr trendline and also the creation of a LH on the 4hr TF