XAU/USD Weekly Plan
Hello traders , Gold has broke market structure on the 4h time frame wish means we are in bearish trend
But the market now is in retrecement and discount areas wish means we only look for day traders or scalps to the upside
When We look at fundamentals :
1) Cot data : Large funds loading up shorts
2) covid uncertenty
3) safe haven long term bullish
4) Gold seasonal tendency expected buy the end of the year or in early january
Technically :
Weekly Bearish order block ( supply zone)
Market structure Shifted bearish
There a previous lows below 1680 price levels wish will probabily get attacked
So this is long term bearish plan and buying is only scalps with confirmation entries
But the market now is in retrecement and discount areas wish means we only look for day traders or scalps to the upside
When We look at fundamentals :
1) Cot data : Large funds loading up shorts
2) covid uncertenty
3) safe haven long term bullish
4) Gold seasonal tendency expected buy the end of the year or in early january
Technically :
Weekly Bearish order block ( supply zone)
Market structure Shifted bearish
There a previous lows below 1680 price levels wish will probabily get attacked
So this is long term bearish plan and buying is only scalps with confirmation entries
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.