{quote} Like anyother price... Right....1 candle low at 4117.84 and other candle high at 4117.84, expected a max body downside in weekly the sum is the same, yah.... In the chart since beguining of the week i guess....
{image}
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The Phoenix Trader....
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Patience
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Insane in the Brain..
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Gold Updated Analysis
Gold remains under strong bearish pressure after breaking below multiple support structures and confirming a lower low formation near the 4023 area. Price is currently attempting a corrective rebound from the recent low but the overall market structure remains bearish as long as it trades below the descending trendline and the key resistance cluster around 4190-4235. There could be a potential retracement toward the 4152, 4192 and 4232 levels. Any recovery into these areas is likely to attract fresh selling interest. A rejection from the 4190-4235 region could trigger another leg lower toward 4000 and below while only a sustained break above the major resistance zone would weaken the current bearish outlook.
Trade Plan - Sell Setup
Sell Zone: 4190-4235
Targets: 4120, 4023, 3893
Invalidation: H1-H4 close above 4268 
Gold remains under strong bearish pressure after breaking below multiple support structures and confirming a lower low formation near the 4023 area. Price is currently attempting a corrective rebound from the recent low but the overall market structure remains bearish as long as it trades below the descending trendline and the key resistance cluster around 4190-4235. There could be a potential retracement toward the 4152, 4192 and 4232 levels. Any recovery into these areas is likely to attract fresh selling interest. A rejection from the 4190-4235 region could trigger another leg lower toward 4000 and below while only a sustained break above the major resistance zone would weaken the current bearish outlook.
Trade Plan - Sell Setup
Sell Zone: 4190-4235
Targets: 4120, 4023, 3893
Invalidation: H1-H4 close above 4268
Patience
- #56,395
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- #56,396
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{quote} Closing above 4117.8 looks like.... but the way i am seeing building momentum cautiom that the tap in 4122 can trigger another big fall and at the end can be just a wick of 4117.8 closes matter
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Holy Betting Grail strategy
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Holy Betting Grail strategy