HI there,
Let's take a look at GOLD.
Fundamental View:
We had CPI and fortunately inflation took
a downtrend resulting major fall DXY and
we saw whooping rises in XXXUSD pairs.
However, inflation is at it's peak and
rumors of Recession as well as 100bps is still
out which eventually caused fake breakouts.
Technical View:
1800 was amazingly pretty strong rejection thus
causing fake breakouts.
We saw buy stops and bulls taken out by leaving
us with perfect 1D Shooting star candlestick.
Price is still trapped in Bullish channel as well as
upper TL is respected.
Another Rising Wedge inside Bullish Channel is
finally broken.
Looking for Short entries once price retests 1790 zone.
If 4hr candle closes below that zone then we can
have our Shorts open.
Targets can be atleast from 1770 to 1750 but be cautious
about the upcoming Jobless claims and PPI report.
Feel free to share your opinions as well:)
Let's take a look at GOLD.
Fundamental View:
We had CPI and fortunately inflation took
a downtrend resulting major fall DXY and
we saw whooping rises in XXXUSD pairs.
However, inflation is at it's peak and
rumors of Recession as well as 100bps is still
out which eventually caused fake breakouts.
Technical View:
1800 was amazingly pretty strong rejection thus
causing fake breakouts.
We saw buy stops and bulls taken out by leaving
us with perfect 1D Shooting star candlestick.
Price is still trapped in Bullish channel as well as
upper TL is respected.
Another Rising Wedge inside Bullish Channel is
finally broken.
Looking for Short entries once price retests 1790 zone.
If 4hr candle closes below that zone then we can
have our Shorts open.
Targets can be atleast from 1770 to 1750 but be cautious
about the upcoming Jobless claims and PPI report.
Feel free to share your opinions as well:)
