Gold's been on a stellar run with a strong campaign initiated at the start of September which broke out of a beautiful Wyckoff accumulation on the much higher time frame BUEC. Overall still very bullish for gold over the next 18-24months.
In the current price action we've had a strong push up from $2,590 where we have found a new trading range. We had a...
BTC in green support zone.
Not interested in a long here on this double bottom there is no volume to support it on the 2hr and the daily is showing signs that volume is consistent for further down moves.
Only entertaining a long position if it traps off that next low, honestly isn't a great low since that was a panic move from the Japan blow out so I'm dubious...
A high time frame look at gold.
Main hypothesis is based on wyckoff breakout and we've managed to see price acceptance and a volume profile build out. Its had a pretty good run and needs a deep pull back to gather some liquidity and shake out the market before moving higher.
This is what I call a pop and grind, price pops out of a wyckoff range, price grinds...
