XAU/USD 30M - As you can see from the above structure, price has delivered us with the confirmation that bullishness is no longer in play and the bears are in control.
How do we know this? Because we are not longer seeing Higher Highs and Lows, we are now seeing Lower Highs and Lows, this is following bearish laws.
With this market now following bearishness and the overall structure of the market being bearish we can actively look for sell positions. I have highlighted a last buy to sell region which i believe price will reverse from creating its next impulse lower.
I have my TP target where it is as we have a-lot of inefficient structure below that has been left due to fundamentals this past fortnight. I believe price will come down to clear all of this before reversing.
How do we know this? Because we are not longer seeing Higher Highs and Lows, we are now seeing Lower Highs and Lows, this is following bearish laws.
With this market now following bearishness and the overall structure of the market being bearish we can actively look for sell positions. I have highlighted a last buy to sell region which i believe price will reverse from creating its next impulse lower.
I have my TP target where it is as we have a-lot of inefficient structure below that has been left due to fundamentals this past fortnight. I believe price will come down to clear all of this before reversing.
Comment:
Price has trailed back up into a Re-sell zone I have highlighted around 1749-1751. I believe price will tap into this, clear the last buy to sell region and go on to set a new bearish impulse taking us lower into the market.