Gold - Capturing Short-Term Retracements
Continuous bullish price action will eventually lead to minor retracements where scalpers can profit from.
Many say the trend is your friend but i like to go against that so i am looking @ $2,619 low hanging fruit for a healthy retracement. $2,600 would also be considered healthy in my eyes as market structure will still be in tact.
Many say the trend is your friend but i like to go against that so i am looking @ $2,619 low hanging fruit for a healthy retracement. $2,600 would also be considered healthy in my eyes as market structure will still be in tact.
Note
On target...
We want to see short term lows swept @ $2,622
$2,636 highs is my last line of defence today
Note
*Updated last line of defence to $2,632 (Throughout the US session today)*
So far, so great.
This is the type of price action needed to book lower prices.
We have seen the SIBI (Sellside Imbalance Buyside Inefficiency) rejected on the 5-min timeframe but as 09:30 bell strikes, there could be a possibility for bullish manipulation up into a premium array @ $2,631.98 - $2,632.
Note
Back in a premium price range.
Keeping my eyes peeled!
Note
Ideal short scenario has passed by.
Sitting on my hands, awaiting a bearish shift in market structure on the intraday timeframe
$2,636 would be my next point of study
Note
$2,636 Rejection
But it's not enough...
I need more confluences.
I will be more interested in shorting once we are below $2,631.98
Note
Rangebound day throughout yesterday
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.