GOLD WEEKLY OUTLOOK
Price has just completed a break of structure on H4, creating a HH on H4 and is currently in a pullback phase. Supply is in control.
The current plan may follow a counter trend move to the value demand zones with at 49-64 & 36-43.
Overall, the price is still in the extreme supply zone of the weekly frame, and a sharp decline in price according to the weekly structure could still occur.
What are the risks?
Any selling positions are currently against the trend, so allocate appropriate capital.
Any early buying positions against the current bearish structure, so be patient and wait for demand to be back in control for a better probability trade
Trading in the balanced area (Fair Value) of 76-96 will be messy as price tends to go up & down around this area
Happy Trading!
The current plan may follow a counter trend move to the value demand zones with at 49-64 & 36-43.
Overall, the price is still in the extreme supply zone of the weekly frame, and a sharp decline in price according to the weekly structure could still occur.
What are the risks?
Any selling positions are currently against the trend, so allocate appropriate capital.
Any early buying positions against the current bearish structure, so be patient and wait for demand to be back in control for a better probability trade
Trading in the balanced area (Fair Value) of 76-96 will be messy as price tends to go up & down around this area
Happy Trading!
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