XAUUSD

5 juil.

Hello traders, Im currently bearish for Gold we have seen that price has left a significant amount of imbalance to the downside, we have currently tapped into a major level of supply after it broke structure to the upside. Seeing a good amount of rejection from that zone of supply. If we look on the higher timeframes, we can see price looks like it wants to hold the recent bearish orderflow. Gold will be extremely volatile news today from 1–1:30 GMT. I have another supply zone above that I will be monitoring if the current one gets broken for potential bearish setups. To be honest, with how volatile price is today, it could well enough continue to push up, continuing the uptrend it has been on. However, I do belive price will have to retrace deeper before pushing up. Today fundamentals will play a major role in the direction price will go, so just be careful.