My bias has been for sells until we reach our long awaited retracement zones at 93400. However with at Shift of momentum to the upside on structure, I'm now wondering if we can clear the liquidty levels at 2.0300 above before mitigating out at a premium price to the drop to the 93400 prices. We could also see 2.01000 be met to push lower keeping with the down...
I have a buy area on GOLD that I am currently looking for a sell to buy.
We've had the accumulation Wyckoff phase happening for the last 2 weeks for a push to the upside. With mitigation currently happening meeting our reversal 71.8 Fibonacci level, my bias is currently to the downside with my sell limit being met. I won't be surprised if this pushes higher to the price points of 1527 however to fill the huge imbalances we have at those levels.
If the DXY drops from here, it's going to be a fun week
We've had a large open order from 2017 that still needs to be mitigated out, but prior to that bullish rally, we should see one more move to the downside for this mitigation to play out. I'm looking for a pull back between the 71.8 and 78 fib level for this to continue downwards. As always...... PATIENCE - CONFIRMATION - ENTRY - PROFIT
If one of these price levels holdl, I'll be looking for a retracement to the upside to fill some imbalances and scoop some liquidity before heading back down to mitigate out of some open orders.