XAUUSD (GOLD) THE SELL MAKE SENSE.

23 ott 2020

HERE IS MY TECHNICAL ANALYSIS ON GOLD FROM A 1 HOUR PERSPECTIVE. PRICE IS RETESTING A CRUCIAL ORDER BLOCK/SUPPLY & DEMAND ZONE AND IS SHOWING STRONG REJECTION SIGNS, I'M HOPING FOR ONE MORE RETEST TO SNAG A VERY SHARP ENTRY WITH A SMALL STOP LOSS. PRICE COULD ALSO LOOKED TO HAVE FORMED A H&S PATTERN. GIVEN THE NUMBER OF LONG POSITIONS ON GOLD AT THE MOMENT I'D EXPECT PRICE TO HAVE ANOTHER CORRECTION TO THE DOWNSIDE TO LIQUIDATE SOME LONGS BEFORE THE LONG TERM ASCENT. LETS SEE WHAT HAPPENS.