For 5 consecutives D1 Candles, including Sunday, GOLD was on a Big Bearish run.
On the 6th D1 Candle GOLD Consolidated in the area of ca. 800 Pips.
On the H4 chart there is the bounce Up pin bar and the following Break Up Candle,
or Engulfing Candle, or Trend Candle - depending on individual definition.
Bears were unable to make a new Low but Bulls did not have enough power to go up, either.
However, every consecutive Bearish attack has been counterred with a Bullish Break Up, so far.
Thus, despite the long spike, because some Big-one had to close their Shorts at Profit,
(BTW. Doesn't that tell you anything?), Bulls still Broke Up, however, unable to make a new High.
Today's first H4 Bullish Break Up Candle was the signal for today's Long from my location (London+1).
Now, the price has Consolidated, first after the last longer Bullish Candle,
next in the following H4 Doji.
This is the building of the Demand Zone, which, for me is clearly visible.
From the M15 chart perspective, Bearish Break Down Candle 1 was the signal for Short.
However, looking at the Bullish run just left to this Candle, the relative potential was weak.
Even, though it could produce 130 Pips.
As usual, the problem is that we are not there when it happens.
I was still good on the Long, just got Profit SL-ed.
Gumrai was there for the Short.
On the 6th D1 Candle GOLD Consolidated in the area of ca. 800 Pips.
On the H4 chart there is the bounce Up pin bar and the following Break Up Candle,
or Engulfing Candle, or Trend Candle - depending on individual definition.
Bears were unable to make a new Low but Bulls did not have enough power to go up, either.
However, every consecutive Bearish attack has been counterred with a Bullish Break Up, so far.
Thus, despite the long spike, because some Big-one had to close their Shorts at Profit,
(BTW. Doesn't that tell you anything?), Bulls still Broke Up, however, unable to make a new High.
Today's first H4 Bullish Break Up Candle was the signal for today's Long from my location (London+1).
Now, the price has Consolidated, first after the last longer Bullish Candle,
next in the following H4 Doji.
This is the building of the Demand Zone, which, for me is clearly visible.
From the M15 chart perspective, Bearish Break Down Candle 1 was the signal for Short.
However, looking at the Bullish run just left to this Candle, the relative potential was weak.
Even, though it could produce 130 Pips.
As usual, the problem is that we are not there when it happens.
I was still good on the Long, just got Profit SL-ed.
Gumrai was there for the Short.
Trade the facts, not opinions.