Lower prices for immediate shortterm
Updated
Gold has still a bearish market structure from a high time frame analysis. IMO we could see lower prices, preferably I'd like to see sweeping previous week low as well as HTF daily BSL liquidity before we can see a change to bullish market structure. Seasonal data shows that July is usually a bullish month for Gold, so it would be desirable to set the lows this or latest next week. Obviously we do have LTF POIs where you can enter an intraday long.
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So far Gold is reaching previous day high, I am not liking the current reaction though. Based on current price action, it looks like it wants to go higher. We could either sweep previous day high and then reverse and go lower or we could just continue going upwards.Note
Still playing out, who's in? :)Note
Btw, my first target is 1919, that would sweep Asia range. So if anyone is in a short position, 1919 is a good TP1.Note
I did take some partials already as market is closed and we might see another bounce back to FVG / 15M -OB at around 1927. This would be another good area to short IMO unless Asia Session has other plans. Hope you enjoyed the analysis and te breakdown!
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