----> Top Down Analysis Price Action Weekly>Daily >4hr>1hr
----> Structure & Key Levels
----> HH, HL, LH, LL, FIBS
----> Price Action & Formation(s)
----> Daily/4HR Targets & Stops - Swing Lows & Swing Highs
----> Break & Close of Major S/R Structure - or
----> Candle - Structure - Fib - Bias - Overall
Weekly - an uptrend bias still continues. Price as broke and closed above the weekly resistance. We see price action as also created a higher high supporting further more movements once pullbacks have completed.
Daily - similar to the weekly set-up we have a bias with price creating a higher high and at the weekly resistance. Fib extension targets match the daily resistance in the 113.3 zone. A possible pullback on the lower time-frames before buying is in the works. However we must note that due to fundamental news releases prices could be volatile around these areas.
4hr- price touched the 4hr resistance set-up above the weekly resistance. This also created a higher - high and we are clearly seeing pullbacks to potentially form - shorts falling to key areas of 111.53/111.18 before long entries are submitted. A break below and close below of the latter 4hr could change the trend to a bias.
1hr - price similar to the other time frames with regards to the overall uptrend bias. Some pullbacks to occur to the 4hr support zones as above.
Price remained in consolidation for the whole trading week - without meeting the anticipated bearish retracement. This could be in preparation for a significant market move in the next few weeks. The bears in the GOLD market may have exhausted their selling power which could make way for bullish long positions.