After making my own analysis. I’ve come to conclude that Gold is going to be Bearish for sometime.
-Harmonica Bar Structure
-Candlestick Confirmation - bearish engulfing candle.
TRY AND ZOOM IN OR OUT THE CHART AND YOU'LL SEE WHAT I'M SEEING
I hope price plays out very well as expected. If it doesn’t And it hits stop loss. Well it’s just analysis....
The purple box - shows the consolidation that price has been making for the past 15-16 hours.
Then price broke the resistance level.
Then waited for a retest and the SHOT was taken for a BUY.
Expecting price to reach it topmost target which is at 1.05870
Or might just take some profit at the next clear resistance which is at 1.05670.
Hoping the analysis...