MortyM

MortyM

Whilst most people are looking to short after a massive bullish week, I am seeing no signs of immediate reversals. It would be better to ride the trend and look for areas to join the trend and enter long. For me it would be the FVG / Inverse FVG where I want to look for longs. We could see London Session form the low of the day tomorrow and then NY push further...

MortyM Updated 

We are currently in a range that I don't want to see Gold leaving out until FOMC on Wednesday. We do have supply area right above us that I'd expect Gold to reject. Also we didn't take previous week's low which makes me more confident that it's more likely that we'll see lower prices today or tomorrow.

MortyM

This is what I am seeing for today's PA on Gold. I want to see us tap into the IMB created during London session and leave the current range for another move up. We had a deviation of the current range to the downside, so most likely tapping into a deviation to the upside.

MortyM

This is my preferred scenario for CPI today. I want to see Gold tank and sweep weekly low that has been made on Monday and then head back up for the remainder of the day until tomorrow. This lines up with DXY being at a critical level that should offer support and at least retrace to previous day low or in premium level.

MortyM Updated 

Gold has been range bound for a while now and to me it looks like its gravitating towards the grey box to rebalance price. I am expecting this area to be strong resistance and if you're interested in shorting Gold 1045-50 area is a good area to keep in mind. Be aware that we have CPI coming up tomorrow and that price could do the complete opposite. Happy to hear...

MortyM Updated 

After sweeping previous week high and tapping into HTF supply area, I'm expecting NZDUSD to retrace to rebalance price. Keep in mind that this is a riskier trade and price could also make higher highs as overall NZDUSD looks bullish. I would like to see price tap into 15M Imbalance for a short entry

MortyM

It looks like Gold wants to rebalance the daily imbalance and target 1948-1950. IMO this would be a good short opportunity. As the upside move is left with Low Resistance Liquidity Run (several Failure Swings) more downside is likely. If we can then take previous weeks low and then have an up close candle with displacement, this would give me more confirmation...

MortyM Updated 

Gold has still a bearish market structure from a high time frame analysis. IMO we could see lower prices, preferably I'd like to see sweeping previous week low as well as HTF daily BSL liquidity before we can see a change to bullish market structure. Seasonal data shows that July is usually a bullish month for Gold, so it would be desirable to set the lows this or...

MortyM

We have two possible short entries here. We could either reject here at 15M Imbalance which lines up with a bearish OB or we could sweep Asia highs for NY to set the high of the day. Keep in mind that NY already set high last Friday, so not necessarily expecting to sweep these highs. Let me know what you think!

MortyM Updated 

Gold has been in a downtrend ever since hitting ATH. We are currently in a discount area and I could see Gold reversing from here to sweep buyside liquidity with Low Resistance Liquidity Run resting above us. 1920 is a good high probability area to enter a short position IMO