thebasiqtrader

Short on Gold

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello. This is my analysis on Gold this evening (evening this side), a 2-hour long consolidation phase after CPI caught my eye as I was looking at Gold and I anticipate it to retrace back into that range. I marked out the supply level that took out the lows of the consolidation, and that's where I will be looking to get involved in the market unless I find a different setup in the morning when I wake up (signs of continuation and no retracements).
Comment:
Update. Woke and found a rather interesting setup haha, I recognise some buildup when looking at the 15m, what I see happening is an impulse to the upside before possibly beginning to head down.
Comment:
I will be looking for entries if market reject 2037.2
Comment:
Market tapped into my level, I did have some buys to the upside. Got out and looking to sell if market breaks below the previous low (2034.270)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.