AUDNZD has just completed claiming the buyer liquidity and is now looking to reverse and aim for the highs. I'm waiting for price to trade above the recent support zone and I'll be entering half way down the institutional candle upon a retracement. Very high probability trade.
Let's look at smart money on Gold. Analysing based on the Wyckoff we can see Gold could possibly be in Phase B. Phase A markdown hit a selling climax at 1803 followed by an automatic rally at 1837. We've just seen upthrust action at the 1842 area. Next step is possibly a secondary test of the selling climax (1803). Keep an eye out!
Yesterday we saw a very momentous move down towards 1803 as we predicted. To that zone we saw price repel against that zone and reverse. We can now see price resting but not closing above 1839 which is the level yesterday as to which price very quickly pushed down to 1803. Because we can see the bulls not being able to push through this zone and multiple...
We predicted a Gold sell off last weekend. Following on from that, we saw a very consolidated market this week. You can see price has finally broken and closed below a very strong support zone. Looks like a plummet down is incoming. Thoughts?
After rejecting heavily to the weekly/daily highs last week, we've seen a continuous push down. Yesterday we had a daily close just under 1848. Today we saw a push above 1848 however currently price has rejected the 1848 zone again and is looking likely to finish below again. Could we then see a push down towards 1774? A push down is looking highly probable.