Just a quick analysis of gold as I go over my pairs for the week.
I believe with current world fundamentals (trade war etc.) gold has potential to create a new high in the upcoming weeks. However before looking for longs I would wait for a break and retest of the $1510 region. There is a chance of a pullback on gold before we see this move in which we could see price fall to test the roof of my OB @ $1475 or even enter into the block where it could test my key level @ $1448 which could give a nice R:R ratio.
I have not used order blocks much before so please correct me if I am using them wrong, thanks.
I believe with current world fundamentals (trade war etc.) gold has potential to create a new high in the upcoming weeks. However before looking for longs I would wait for a break and retest of the $1510 region. There is a chance of a pullback on gold before we see this move in which we could see price fall to test the roof of my OB @ $1475 or even enter into the block where it could test my key level @ $1448 which could give a nice R:R ratio.
I have not used order blocks much before so please correct me if I am using them wrong, thanks.