Gold has been in a major uptrend creating higher highs. Once those higher highs were made price started consolidating and rejecting off of those highs down to the .236 level on the fib. We also have consolidation on each level of the fib on a micro time frame. Looking for price to retest a major level of structure and retrace to lower level of structure.
This pair is in between two key levels of structure showing bullish momentum. I have placed my limit order at a 30min zone to be retested before continuing with the uptrend to a 1HR level of structure before falling to retest structure below. Alternatively price can fall to the lower structure before continuing the uptrend.
