Hello traders.
After a long bullish move for gold, I can see that there are many sell order in the zone 1660-1680 based on volume profile.
The area of 1675 - 1707 which used to be great demand area - ideal for longs, is not valid as support any more. Despite the global financial crisis, USD is getting really strong in the mid-term. The Demand zones close to...
These bottom wicks are pretty consistent when it comes to engulfing price action. Expect that area to fill.
Lotta salty bulls right now and I hate to pour more salt but it is what it is.
* * * Not Investment Advice * * *
This huge, out of place (way larger than the rest on this time frame) candle means that price went out of the zone so fast that orders were left waiting. And apparently a lot of orders. Since it took price about 27 hours to get back there. Otherwise, price would not have returned.
