Notes and plan all on the chart for now.
This is a long term plan with a future planned entry on a pull back to a quality DBR or RBR demand zone if if happens to present itself.
This is a long term plan with a future planned entry on a pull back to a quality DBR or RBR demand zone if if happens to present itself.
Comment:
Gold entering the Weekly demand zone above the Fresh Monthly demand zone. This has become a waiting game to see if Gold will create a Trend change pattern with NEW demand levels on the Daily and Weekly charts.
Comment:
Gold is looking weak at this point and it may take a lower move to the fresh Monthly demand zone before there is any kind of trend change at this point. Could take 3 months or more to create the conditions for a trend change and long opportunity.
Comment:
Gold remains weak. Now it is a wait and see if there is a weekly trend change from the monthly demand zone just below current price. Patience is key. No quality trade setup formed on daily chart to go long from the weekly demand zone.
Comment:
Fresh Monthly Demand zone has now been touched (shallow touch) and we are seeing a reaction. So now it is a wait and see if there is a trend change on the Weekly chart.
Comment:
Price touched the Monthly Demand Zone. Did not go very deep. There is a reaction happening but does not seem to be a strong reaction. It is still a wait and see if there is a confirmed trend change on weekly chart.