Smart Money tricked the retail traders once again. Market created even lows to induce buyers to take positions, then stopped them out. Beautiful. The stop hunt began with the extremely bearish candlestick that swept through the lows, then price rises....Hmm... Seems like Smart Money sold to buy cheaper. The green area where they placed the sell is what we are...
I like where we are at with GOLD, however it is very bearish. Want to be looking for another push upwards to confirm the movement up, then a pullback to the green zone and we will pull the trigger for the BUY!
Waiting to JUMP THE CREEK off of the order block. Smart Money sold to buy and I am waiting for them to breakeven on the sell to push market up. Spread was WAY too big when the market opened yesterday, so I would like to see price come back to 0.94650 again give or take a few pips. Then we will jump in with the buy and ride it to the previous highs.
Seeing accumulation of orders w/spring respecting the trend line we have under price. I am also seeing manipulation of spread above the order block preventing traders from obtaining a profitable entry. Will wait for price to respect order block once more to then place the BUY entry around 0.94650. Take profit areas are at each of the previous highs.