After price action has failed to claim the last ranges value area low and move back into the previous range, I expect gold to continue its decline and will be targeting the extreme 4hr OB which initiated the last uptrend before we again switch to the current down trend on the higher tf.
I will be holding my swing short positions until that OB is reached and start looking for longs at that level depending on the reaction when we get there. I’d like to see a quick reversal with lots of buying pressure. But will also be monitoring the untapped weekly level around 2k for a possible day trade long position if we see a swing failure pattern once it is tapped…
I will be holding my swing short positions until that OB is reached and start looking for longs at that level depending on the reaction when we get there. I’d like to see a quick reversal with lots of buying pressure. But will also be monitoring the untapped weekly level around 2k for a possible day trade long position if we see a swing failure pattern once it is tapped…