Gold should technically test 1748 in the coming hours
Hey guys,
Gold is currently consolidating in a channel but what's interesting to notice, using the ichimoku cloud (which I use a lot in my trading ideas) is that price managed to break on M15/H1/H4 all its resistances.
On M15 the lagging span is above the previous price candlebars and managed to get above the 50% of the current formation.
We have a level of supply at around 1748, which is also the top of this current structure - it's a confluence area! So we should see some selling there.
Trade with care!
Cheers
Jesse
Gold is currently consolidating in a channel but what's interesting to notice, using the ichimoku cloud (which I use a lot in my trading ideas) is that price managed to break on M15/H1/H4 all its resistances.
On M15 the lagging span is above the previous price candlebars and managed to get above the 50% of the current formation.
We have a level of supply at around 1748, which is also the top of this current structure - it's a confluence area! So we should see some selling there.
Trade with care!
Cheers
Jesse
Note
Expecting gold to test 1750.40 level before it meets supply
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