We see a flag pattern after 2 sessions of accumulation (NY & Asia), we expect to hit Final TP 2070.00. Is possible that it will try to break thru the 2078.40 level and establish a new HH level above. If that will be the case will see Gold rising until 15/20 December continuously. After busy months before Christmas, we can look at a crash for long pips, as economy will slow down.
In case today we witness a rejection from the level, we can wait for retesting the 2051 level before going down. The area Gold try to break thru is about 300 pips so for sure will tempt to break thru, let see if is succeeding into closing above and consolidating above. For now, we target the buy as in figure shown. By 11 am UK Time will know if will make it or at 1:00 pm UK will see the volume from cross sessions London with NY and then will be the move to catch. Remember, 12:45/1:00 pm leave it aBove, to show the direction and receive confirmation of price action, then get in after 1/1:15 pm UK time. The window of 15/30 min is necessary for SL Chasing and Liquidity accumulation, after it will go in the opposite direction and continue during NY Session until late 3:45 -4:45 PM.
I am a day trader and will secure a good entry, then add on the position until final TP.
Have a great session. Blessings.
In case today we witness a rejection from the level, we can wait for retesting the 2051 level before going down. The area Gold try to break thru is about 300 pips so for sure will tempt to break thru, let see if is succeeding into closing above and consolidating above. For now, we target the buy as in figure shown. By 11 am UK Time will know if will make it or at 1:00 pm UK will see the volume from cross sessions London with NY and then will be the move to catch. Remember, 12:45/1:00 pm leave it aBove, to show the direction and receive confirmation of price action, then get in after 1/1:15 pm UK time. The window of 15/30 min is necessary for SL Chasing and Liquidity accumulation, after it will go in the opposite direction and continue during NY Session until late 3:45 -4:45 PM.
I am a day trader and will secure a good entry, then add on the position until final TP.
Have a great session. Blessings.