Despite a visible attempt to return to the upside on the LTFs, I am still selling gold on the MTFs.
On Wednesday, following the economic announcements, we returned to the bearish equilibrium on the MTFs.
The price immediately reacted downwards (we also rebounded on an order block).
In my view, there are two possible scenarios:
- Continuation of the downtrend without a return to the OTE zone
- Return to the order block in the OTE zone before resuming the downtrend.
If my 2 zones don't react and we continue the BOS on the LTFs to the upside, then this could mean a change in trend.
I will therefore be looking for gold sales over the next few days.
Feel free to subscribe and boost this post if you enjoyed my analysis, as well as tell me what you think in the comments.
Happy trading and have a good weekend :)
On Wednesday, following the economic announcements, we returned to the bearish equilibrium on the MTFs.
The price immediately reacted downwards (we also rebounded on an order block).
In my view, there are two possible scenarios:
- Continuation of the downtrend without a return to the OTE zone
- Return to the order block in the OTE zone before resuming the downtrend.
If my 2 zones don't react and we continue the BOS on the LTFs to the upside, then this could mean a change in trend.
I will therefore be looking for gold sales over the next few days.
Feel free to subscribe and boost this post if you enjoyed my analysis, as well as tell me what you think in the comments.
Happy trading and have a good weekend :)