There is a fair value gap below the previous lows and some sell side liquidity waiting to be swept up by the institutions... i strongly feel XAU is moving to the downside.
Just before 8:30 i took a sell cause i saw that the market was at the 1 hour Orderblock
So the purple line that i marked up is the bottom of the bullish order block, if there is a break in that level right there then i would like to see the market break down some more and fill in the Fair value gap and then rally back up.
Price is also at a key level on the FIB Retracement (.705) as well as a key order block, so we can also see the rally up from...
I see a fair value gap sitting above the 1 hour OB , so here are the two potential outcomes that i see happening...
1. Market may go and tap the order block and then seek to sweep SSL below those lows or
2. it may go up to the order block, retrace a little, go to fill the Fair Value Gap, then go to purge sell side liquidity below the lows.
The Seasonal Tendency for the month of September for the DXY is Bearish, Look for shorts this month but also be able to adapt to what the market gives you
The DXY Is going to be Bullish for the rest of the week. There are equal highs that need to be cleared and gaps that need to be filled .... The DXY is going to be bullish. Share this with your friends and let them know. if you dont beleive it, set a notification right now and remind yourself to come back and check this analysis out !
