Gold is currently at all times high on the charts that we have access to, so I do not know if price will continue higher. Looking for price to either continue bullish from where it is OR actually close inside the current D FVG and then continue bullish to take out the previous week high. However the FVG is fully mitigated, so we shall have to wait and see what the market does at open for the week.
Trade active:
Price did not hit the previous week high (2081.46) that I had marked, however it did hit the previous daily (D) zone, which at the time of the original post was also the previous month's high (PMH). Price ended the week inside of the D B FVG (fair value gap) and did not close below the 50% area of the zone. So I am looking for price to go back bullish again, possibly dropping slightly before continuing bullish again. I am still looking for price to tap into the PMH.
or
If price closes below the 50% area of the D zone, it could continue down to high the previous month low (PML). #20230506GoldDUpdate
or
If price closes below the 50% area of the D zone, it could continue down to high the previous month low (PML). #20230506GoldDUpdate
Trade active:
D has played out to the downside as I thought it would do if it was to break bearish at 50% of the D FVG zone that it has been playing around in. Price has not hit the previous month low (PML) yet, but it should do that this upcoming week if price decides to continue to the downside. As I predict that it will. I'm torn as to whether or not to close this idea, because technically if I was still int this trade, price would be just above my SL right now. So I will leave the idea open for now and see what the new week brings. #20230506GoldDUpdate2
