Gold, mapped to a Wyckoff distribution chart.
If you're a Wyckoff theory user, you might find this a useful map for the upcoming road on XAU/USD. At this point given current world news it could quite easily shift into a re-accumulation pattern, but for now Gold is playing to a flawlessly recognisable and easily marked up Distribution setup.
Confirmation would be usual behaviour for this setup - a return to 1725-1750 then a rejection further down sinking as low as 1300-1400 with no predictions past that point. Short if you want to, but mostly, just pay Wyckoff mind - its more about market psychology than anything else.
Confirmation would be usual behaviour for this setup - a return to 1725-1750 then a rejection further down sinking as low as 1300-1400 with no predictions past that point. Short if you want to, but mostly, just pay Wyckoff mind - its more about market psychology than anything else.
Comment:
Confirmation acheived in the form of a fairly precise return to 1725~ region then another drop down - see how low it goes i suppose?