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Mankz

GOLD FORECAST

Short
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
Mankz Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
Trend Analysis Chart Patterns Gold XAUUSD
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trendanalysis chartpattern gold xauusd
MARKET PHASE
  • GOLD is in a weekly downtrend with a daily timeframe corrective structure taking place.

AREA OF VALUE
  • We can expect a buildup of liquidity (buy stops, longs, stop losses) above the daily swing highs. On the 4H timeframe, we are already seeing selling pressure taking place above the daily swing highs.

TRADE
  • Buy-side liquidity has been taken. Wait for a violent break and close below the swing low and a subsequent pullback into the liquidity zone before going short.
Comment:
TREND CHANGE. Gold violently broke to the upside. Wait for a corrective structure on the daily time frame.
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