Gold/Dollar looking to go up into a retracement in the form of a Fair Value Gap. Reacted Heavily yesterday into a daily orderblock, then reacted as such. (Price was building up a premium for a longer timeframe) Most likely looking bearish from here on out.
So at the start of the week we formed a gap, and now price has covered the gap. We saw some hard selling off towards the end of last week, where very little buying was done. This means there is an imbalance of price. This does not mean that price will run to close this unbalanced price action, rather it only serves as a pointer to the overall underlying bearish...
So then, this is my first post, so I don't expect a whole lot of clout. I just know that I'm practicing some smart money concepts, which I believe can be applied to any graph.
This is a 1 Hour analysis of what I thought the EUR/USD would be likely to do today. Being mindful of the overall bearish bias, I noticed some inefficiencies on the buyside. The market...
