I am looking for selling opportunities around the current supply level of 124 which is lining up with the Fibonacci level 61.8. If this area is violated to the upside. I will be looking for another sell around the next major supply area on the daily chart around the 126 zone. We have been slowly moving up but know where near the way the bears were moving. So ...
I am looking for a further long position from the key demand levels. This pair just made a new high and broke a supply zone. So I am looking for it to retrace either down to the 50% level which lines up with a demand level on the 2 hour chart or further down to a strong demand level on the 4hr chart. I have my alarms set.
Looking for a retracement into the 50%-61.8% Fibonacci Level which lines up with a 4 hour demand level in addition to AU making a new higher high. So I am looking for a small correction and proceeding back up. So I'm looking to continuing to go long on this pair unless supply structure is broken on a higher TF.
I'm looking to go long on this pair into the next major level of daily supply which seems to be holding steady. I see a retracement on this pair into strong 4 hr demand levels, lined up with important Fibonacci levels and support. Now if there is a break of that major supply area I am looking for longs into the next major supply level.
I personally think there is more room for shorting opportunities for this pair. With the U.S. Dollar being weak and NFP reports coming in low. I do see a pull back into the 4 hour supply levels which are collaborating with major fib levels and strong support and resistance daily levels. So with that being said I'm looking to short this pair unless the market shows ...
What was once support has now turned into resistance at the 1348/1356 level. Gold is still trading in a range. The break of the demand level around 1328 is where I would consider taking a major short. For now I will continue to trade within the levels of the range off the supply and demand structure with conjunctions of breakout plays.
Looking for a possible break of the 1328.00 demand level down to the level 1314 for a continued short. If demand level isn't broken I will take longs back to previous demand which is broken taken TP around the 1348.00 level. Im neutral on this pair and have been taking longs and shorts consistently for over a month.