- The inevitable is coming - I see the rats sliding into the trap. Pressure forces them down. Fight the powers and suffer the consequences. Don't be the rat. Don't be the killer. Tell me your dreams. Delusions of grandeur. Create the recipe.
Re-entry as price pushed back into the inside bar only to takeout and bring more money into the market to dump gold and keep under the water . 4hr making top wick to then push down as money is collected from 1560 level which has seen dumps in previous seasions and LDN/NY wasn't fond of the idea of letting this precious metal to peak and to keep pushing.
Price to reject daily and 1hr inside bar with NYSE open to take bearish back down with daily candle pushing down , targets on swings 1700
Gold analysis on for the week and potentially to be able to swing.
Want this week to close as a bullish hammer candle , showing rejection from the downside and money coming into the market to push to 1800 , want a daily close above 1760 to then retest around 1758 on the 4hr , see rejection then after rejection candle pattern, look for liquidity grab for entries on 1hr to take for 400 pips
Clearly watch rejection on resistance line to see how it will bounce back down . Utilise this trade idea and scale the short and also watch for adjustment and then see if it will reject again and wait for fast moving breakout.
4Hr chart shows clear wedge and believed to show a break of the wedge with fast impulse movement when breaking the wedge . Looks closely at the chart and watch when it hits the support or resistance as it will become impulsive . Use buy stop and sell stop
Long , EMA coming to cross meaning change in direction aslong as strong support and resistance .