Gold is consolidating around the Hourly 4 chart Rectangle thats indicates the Head & Shoulder right shoulder . I still see 1722 &1727 as a solid Selling entry (strong supports) , with Gold looking weak and without major recovery, I will take the Selling opportunity market is offering once 1727 breaks. Bond Yields are Trading in Neutral zone and DX seem to be showing the way of the new recovery towards Bullish implusive trend and without the idle FOMC Tommorow news and don't be surprised if Gold continues the consolidation candles for #1 session more thats will be the good for the scalpers.
Excellent sideways Price-action extension on the Hourly 4 chart as the emerging Rectangle Trading pattern and making " W " is providing the safest framework for Scalpers only but we have to wait for breakout of 1756. The Hourly 4 Resistance has rejected the Price-action #3 times already which gives an updated Selling range of 1727- 1720 with a potential extension towards 1700. I don't expect this week’s reports to be relevant. Slim chances though for Bearish rebound move as 1727.80 preserved the Price-action. I can consider 1743 and 1753 as an ultimate Top zone, and I will Buy only if that zone breaks. However, Gold can spike up if Bond Yields don’t find the Support and engage more serious recovery, while 1727 test will trigger my Selling orders.
I have mentioned the Two recent patterns According to the H4 Head & Shoulder Pattern gold should be Breakout and complete the " W " pattern.
All the entries should be applied if all rules are applied.
DM us or Comment us on trading view foe details support.
Excellent sideways Price-action extension on the Hourly 4 chart as the emerging Rectangle Trading pattern and making " W " is providing the safest framework for Scalpers only but we have to wait for breakout of 1756. The Hourly 4 Resistance has rejected the Price-action #3 times already which gives an updated Selling range of 1727- 1720 with a potential extension towards 1700. I don't expect this week’s reports to be relevant. Slim chances though for Bearish rebound move as 1727.80 preserved the Price-action. I can consider 1743 and 1753 as an ultimate Top zone, and I will Buy only if that zone breaks. However, Gold can spike up if Bond Yields don’t find the Support and engage more serious recovery, while 1727 test will trigger my Selling orders.
I have mentioned the Two recent patterns According to the H4 Head & Shoulder Pattern gold should be Breakout and complete the " W " pattern.
All the entries should be applied if all rules are applied.
DM us or Comment us on trading view foe details support.