Gold is playing around weekly and daily level.
In Monthly level, price already gave hint possible bullish structure in daily level
Weekly also gave rejection at 1807 and didn't respect HnS sell level 1834,65 (Hint : High Probability for early bullish)
For next week (May 23th - May 27th) we need to focus first in daily storyline
Right now, price inside daily...
Right now, gold price inside monthly zone (1796-1828)
Weekly price rejected from weekly level (1807)
Daily also rejected from daily level (1807)
With price action in Weekly and Daily level, we already got 1 hint that price will bullish again.
But, is it the right time for buy? For me, I will wait for H4/Daily make bullish structure (refer to...
1828 is important level to decide GOLD will reversal or keep in bearish trend.
Storyline in weekly almost 100% done and will end in monthly level (1828). Now, the best strategy is waiting until price reach monthly level.
Last week, we got NFP and FOMC news. But the price didn't make big movement.
Price reacted in Weekly RBS. I made mistake last week because didn't consider that level.
This week, Gold will move in narrow range (1864 - 1897) and possible to make decision for bullish or bearish.
To decide where price will go, I suggest to wait price action and...
Sell Reason:
- H4 make new structure
- HTF Direction = Bearish, as I mentioned before
- Daily didn't give buy confirmation
Entry Level = 1863
SL = 1868
Exit = 1853 (H4) ; 1833 (D)
Portion = Medium - High Sell
Next week, we have FOMC and NFP which probably big movement will happen.
Monthly : Bearish (Rejected from resistance 1975.962, Weekly, and Daily make bearish structure (Low - High - Lower Low - Lower High)
Weekly : Bearish (Weekly closing inside Weekly RBS and S with no confirmation for reversal)
Daily : Bearish (Price rejected Daily Level, and H1 made...
gold price currently in h4 level and already made rejection, but LTF still not give clear confirmation for sell.
this entry for speculation sell.
sl = 1918.5
Gold price approaching daily level. When price hit daily level, it will settle daily storyline. The best strategy right now is waiting for gold make "hint" in lower timeframe and/or price action in daily timeframe.
Reason Sell:
- Price rejected H4 breakout (1893.5)
- M30 make breakout structure (but still not break M30 pivot 1885,5)
- Price came up because of H4/Daily Miss, so storyline for H4 settled
-Portion Sell = Low
Entry Size = Normal (Med-Low Risk)
SL: 1890.5
Exit: H4 (1878 RR 1:1.7) ; D (1872 RR 1:3)
