Looking for continuation trade to the downside here on gold. I have highlighted a supply zone on the 4hr chart with the purple zone and the 1hr supply zone in the orange.
Looking for trendline tap and also either a 50% or 61.8% retracement.
Looking more towards 50% because of the 1875 Key level lining up perfectly with it. Yellow highlight is where I am looking for an entry.
Stop-loss based off wick rejection from previous push down.
Target 1 is 27% and target 2 is 61.8% and also another confluence is 61.8% lining up with 1825.00 Ket level.
Looking for trendline tap and also either a 50% or 61.8% retracement.
Looking more towards 50% because of the 1875 Key level lining up perfectly with it. Yellow highlight is where I am looking for an entry.
Stop-loss based off wick rejection from previous push down.
Target 1 is 27% and target 2 is 61.8% and also another confluence is 61.8% lining up with 1825.00 Ket level.