Hello Guys,
From my analysis I can say that gold could "continue" in its declining phase simply because in D1 it never stopped falling, unlike the minor Timeframes which presented changes but only due to the classic market trend of: Impulse and Retrocess.
So from what can be seen in the minor TFs for those like me who trade intraday we have a choch (change of character) favorable to a bearish trend, and a bos where it creates a decision-making and an orderblock to which we can rely with a possibility of trade and a RR 1:5.
Where could it go?
I don't have a crystal ball in my favor, but the market seems to be quite clear, we have more possibilities and I will show you 2 (the ones I will take into consideration)
1) Get Below The LL and create a Lower Low.
2) Go further down trying to fill at least one of the 2 unmitigated imbalances left down
Goodbye Guys and good luck
Marco De Donno
From my analysis I can say that gold could "continue" in its declining phase simply because in D1 it never stopped falling, unlike the minor Timeframes which presented changes but only due to the classic market trend of: Impulse and Retrocess.
So from what can be seen in the minor TFs for those like me who trade intraday we have a choch (change of character) favorable to a bearish trend, and a bos where it creates a decision-making and an orderblock to which we can rely with a possibility of trade and a RR 1:5.
Where could it go?
I don't have a crystal ball in my favor, but the market seems to be quite clear, we have more possibilities and I will show you 2 (the ones I will take into consideration)
1) Get Below The LL and create a Lower Low.
2) Go further down trying to fill at least one of the 2 unmitigated imbalances left down
Goodbye Guys and good luck
Marco De Donno
I will update you upon confirmation