Gold has come to a level of Supply which may encourage sellers coming into the market with an attempt to push the market to the downside. Therefore we could potentially see the market come down to the Demand zone and then perhaps move in a sideways channel for a short while. However, I am more keen in letting price tell me where it wants to go with a breakout to either the down or the upside and then target liquidity which I will be using to set my targets.
Good luck!
- Price action is key, always wait for confirmation..
P.S This is a speculative setup, not investment advice.
Good luck!
- Price action is key, always wait for confirmation..
P.S This is a speculative setup, not investment advice.