Basic structure analysis here on gold with the trendline strategy on H4.
Price is seen to be in some overrall downtrend here with the uptrend trendline getting broken and pushing through the trendline
For next week, I want to see price comeback to retest the trendline, show reversal signs and drop for a 1:13+ risk:reward.
Clearly in a selloff market here
But there are always pullbacks whether a market long or short
And here?
We're trying to go long
We have some currency correlation to back up analysis
Analysis was done by harmonic and liquidity
Entry would be the session open after liquidity has been grabbed
for this we have a daily trendline break which indicates long sell,
but we'll be looking for longs just below the liquidity pool and at a psychology level for a minimum of 1:4
this is not a financial advice, do whatever you want with this information.
Strong buy zone with different confirmations
1. Harmonics
2. Order block
3. Imbalance
4. Liquidity below current 15min lows
5. Area for wyckoff schematic spring to tap into
Many confirmations on this one lol
Harmonic crab pattern
Trendline break and exhaustion
Recent GBP weakness.
eur strength
Manipulation at the reversal point too
Multiple confirmations on this one
1. ABCD PATTERN (78.6/127.2-141)
2. GOOD SUPPORT
3. TRENDLINE DUE BREAK
4. GBP'S RECENT WEAKNESS
5. EUR'S STRENGTH
ALL GOOD FOR BUYS
RISK WOULD BE 2%
