gold is currently showing respect for bullish 70% fib.
the coming week we should see a bearish pullback, even if bullish trend is being established. healthy trends need healthy pullback. we can use this going both ways.
blue box is 4h bullish ob. if we hold the ob i will be looking to enter longs for the month.
if we break into and then below i will continue to...
As expected from previous idea, gold has bottomed right around 1780, supported by 70% OTE.
we have a strong reversal pattern on 1-4h and a inverse h&s on weekly
line path is a rough estimate, join the family for every single trade.
RESPECTIVE TP LEVELS (blue boxes)
We are currently sitting in a Weekly Bearish Orderblock, with 1914 being 50%.
On line chart you can see a pretty clear Inverse H&S, which I believe will be used to correct the steep uptrend.
Blue boxes are Bullish OBs, with 50% marked in red.
Use those areas for possible area of struggle.
Unless we close above 1914, we should see our corrective move down before...
we had a great retest of 1H bullish OB @ 1843.5-1847 and TL Support which proved very strong in favor of the bulls.
we now have a 4H bullish ob sitting above strong support.
Expecting a pullback to the 4H OB and 1850 key level
targets marked in green.
long term we should be heading for the Triple Top @1950
pm me if you need a mentor or help passing ftmo
we have seen our liquidity grab in the form of a h&s.
we will probably remain sideways for a bit longer before breaking up into $1855-65, ideal profit taking levels for institutions
on 1h we can see price reacting to sam and 38% fib.
buys entered at 1820, target 1865
price will break hard toward the next block.
my bias is Bullish.
stimulus, biden, impeachment..
from my POV, TA is also bullish
we are also being supported by our past BreakerBlock.
1792-1802 OR 1870-1880.
i do believe either side would bring much further.
Bearish being 1767-80
Bullish being 1900-1920
1929-1930 would be next stop, followed by 1945