Fellow Traders ...i tried to make the analysis as simple as i can ,as the unfortunate events affected the Gold market and any other pair ...
Now what we have here is that the market retraced the whole bullish impulsive move with a bearish impulsive move , breaking through the local support which was a Higher low on intraday timeframes ...the overall direction is Bullish but to me its seems to be telling me that it wants to sell before it could buy
We should know by now that after an impulsive move follows a correction ,Now i'll be expecting a bearish flag like pattern/correction to form so that i can aim for the Support zone ($1848 -$1854) ,creating a higher low on bigger timeframes, where i'm expecting the market to continue its overall bullish movement
Now what we have here is that the market retraced the whole bullish impulsive move with a bearish impulsive move , breaking through the local support which was a Higher low on intraday timeframes ...the overall direction is Bullish but to me its seems to be telling me that it wants to sell before it could buy
We should know by now that after an impulsive move follows a correction ,Now i'll be expecting a bearish flag like pattern/correction to form so that i can aim for the Support zone ($1848 -$1854) ,creating a higher low on bigger timeframes, where i'm expecting the market to continue its overall bullish movement
