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We have price bouncing from legit supply,
But now is a reaction to much lower demand.
1] I would look for shorting opportunities at key levels above where we are now.
2] your buy positions are at risk exposure, as no real confirmation made for long.
It may work out, and price may drive all the way up, but only as a retracement action to regain short...
Momentum shows a strong bias for long. Now we are looking for the ending of price retracement.
The following levels may play for taking long shots.
Be advised to use price action confirmation at the mid-range levels.
Day Trading levels provide few scenarios for today.
1. Possible short at QM level. be aware of the compression zone above. If price breaks this zone, it may continue upward.
2. Long. If the price action dynamic is impulsive, it may take this level to continue the up move. If scenario 2 hit before 1, Scenario 1 is canceled.
3. Lower QM has more probability with...
This intraday chart examples possible entries for AU. While by High Timeframe, either lower or higher support yet to be broken before we can convict on a long term bias.
In the lower timeframe we are expecting one of the mentioned levels to hit first. Extra cautious is needed as many levels are already consumed before.
As long as price do not touch the resistance zone of 1307.28 - 1327.75, any visit to lower support may consider for a opportunity.
Use Price action confirmation for the mid-range levels, then initial target is the first touch at the resistance zone.