Intraday Analysis - GOLD - ( 2nd MAR 2023 )
Not the cleanest of price action to kick start the month , however HRHR buys played out above 1836 as per analysis but was short lived when mixed data was released during NY session. Will still be continuing its bias of bullish momentum as of now, always remember trend is your best friend 👍
Do not marry the bias though for longs as overall Gold is still bearish. ( ZOOM OUT )
Will be looking for an extended retracement on Gold if fundamental data released in the next couple of days before NFP shows a weak dollar. Gold could potentially retest 1852 - 1855 region. Potentially even 1860s if volume and momentum are in play. ( would be exiting longs positions by then )
HRHR BUYS AT 1832
MRMR BUYS AT 1836
SAFEST BUYS AT 1840
SAFE SELLS BELOW 1828
SAFEST SELLS BELOW 1820
All in all I do expected a retracement higher on gold to reach greater sell side liquidity zones. However if gold just melts , that will be best
Not the cleanest of price action to kick start the month , however HRHR buys played out above 1836 as per analysis but was short lived when mixed data was released during NY session. Will still be continuing its bias of bullish momentum as of now, always remember trend is your best friend 👍
Do not marry the bias though for longs as overall Gold is still bearish. ( ZOOM OUT )
Will be looking for an extended retracement on Gold if fundamental data released in the next couple of days before NFP shows a weak dollar. Gold could potentially retest 1852 - 1855 region. Potentially even 1860s if volume and momentum are in play. ( would be exiting longs positions by then )
HRHR BUYS AT 1832
MRMR BUYS AT 1836
SAFEST BUYS AT 1840
SAFE SELLS BELOW 1828
SAFEST SELLS BELOW 1820
All in all I do expected a retracement higher on gold to reach greater sell side liquidity zones. However if gold just melts , that will be best