Been accumulating for this week. Parabolic setup for gold as culmination for price action on Non-Farm Payrolls this Fri.
From a weekly timeframe structure break, this push up is a pullback to the 50 weekly fib level.
It may continue higher as there are fresh supply areas to mitigate. If not, then a continuation of the weekly pro-trend trade may commence.
If it does the other way around whereby it just grabs liquidity at the previous week's high level, then the pro-weekly bear trend may commence early.
From a weekly timeframe structure break, this push up is a pullback to the 50 weekly fib level.
It may continue higher as there are fresh supply areas to mitigate. If not, then a continuation of the weekly pro-trend trade may commence.
If it does the other way around whereby it just grabs liquidity at the previous week's high level, then the pro-weekly bear trend may commence early.