Hello traders. This is my analysis on Gols today, I am bearish on Gold this week. I did enter a long position this morning which resulted in a loss. This is what I think might happen if this 1h candle closes below the lows of this consolidation, my actual tp is around 1987.000 but I'm keeping in mind the probability of Gold tapping into the supply level that is at around 2065.000 because at the moment if you take look at the other side of this trade idea, this consolidation might be just a retracement before an impulse to the supply level. What do you guys think?
Comment:
If Gold breaks above 2054.270 then I will be closing for now. And wait some bearish momentum